You are considering the purchase of an investment that would pay you $98 per year for Years 1-4, $91 per year for Years 5-7, and $74 per year for…

You are considering the purchase of an investment that would pay you $98 per year for Years 1-4, $91 per year for Years 5-7, and $74 per year for Years 8-10. If you require a 14 percent rate of return, and the cash flows occur at the end of each year, then how much should you be willing to pay for this investment?

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