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20,000 received today discounted at 8% 25,000 received two years from now discounted at 8% 5,000/year (beginning at the end of the first year) for
20,000 received today discounted at 8%
25,000 received two years from now discounted at 8%
5,000/year (beginning at the end of the first year) for 6 years discounted at 8%
Which is worth more today at the discounted rate of 8%
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