You are considering the purchase of an investment that would pay
you
$12,000 per year for Years 1 and 2, $22,000 per year for Years 3
and 4,
and $8,000 per year for Years 5 and 6. If you require a 14
percent
rate of return, and the cash flows occur at the end of each year,
how
much would you be willing to pay for this investment?
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