John has an investment opportunity that promises to pay him $16,000 in four years. He could earn

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John has an investment opportunity that promises to pay him $16,000 in four years. He could earn a 6% annual return investing his money elsewhere.
What is the maximum amount he would be willing to invest in this opportunity?


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Intermediate Accounting

ISBN: 978-1260481952

10th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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