Question: 18 Die 2.5 points Your firm is purchasing a machine for $14,000 per year for each of the next 7 years. The first payment is

18 Die 2.5 points Your firm is purchasing a machine for

18 Die 2.5 points Your firm is purchasing a machine for $14,000 per year for each of the next 7 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 8%, 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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