Saul Cervantes has just purchased some equipment for his
landscaping business. For this equipment he must pay the following
amounts at the end of the next five years: $13,450, $8,970, $9,050,
$12,070, and $11,870. If the appropriate discount rate is 10.300
percent, what is the cost in today’s dollars of the equipment Saul
purchased today? (Round answer to 2 decimal places,
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