What is the present value of this mine today

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You own a gold mine. The value (net of all expenses) of the gold produced by this mine this year (Year 0) was $1,000,000. Unfortunately, the value of the gold removed from the mine is declining at tte rate of 10% per year. Assume that you will keep the mine open for 20 years and then close it down (at zero salvage codes). What is the present value of this mine today?

Reference no: EM13268013

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