Question: Industrial Electric Services has a contract with the U.S. Embassy in Mexico to provide maintenance for scanners and other devices in the building. If the

Industrial Electric Services has a contract with the U.S. Embassy in Mexico to provide maintenance for scanners and other devices in the building. If the first payment of $12,000 is received now, what is the present worth of the contract, provided the company will receive a total of 10 payments (i.e., years 0 through 9) and the interest rate is 10% per year?

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