Question: An arithmetic cash flow gradient series equals $550 in year 1, $650 in year 2, and amounts increasing by $100 per year through year 14.

An arithmetic cash flow gradient series equals $550 in year 1, $650 in year 2, and amounts increasing by $100 per year through year 14. At i = 11% per year, determine the present worth of the cash flow series in year 0.

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