Consider a series of $1,438 annual cash flows that goes on forever, with the first cash flow occurring one year from today. If the discount rate is 4%, what is the present value of this series of cash flows? Round your answer to the nearest penny.
Consider a series of $1,438 annual cash flows that goes on forever, with the first cash flow occurring one year from today. If the discount rate is 4%, what is the present value of this series of cash flows? Round your answer to the nearest penny.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 29P
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