Question: 11 2.5 points Your firm is purchasing a machine for $26,000 per year for each of the next 6 years. The first payment is due
11 2.5 points Your firm is purchasing a machine for $26,000 per year for each of the next 6 years. The first payment is due today. Suppose instead you'd like to just pay for the entire machine today. If the discount rate is 14%, what one-time cash payment today would be equivalent in value to the entire series of payments? Enter your answer as a positive number rounded to the nearest dollar. Type your
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