An investment costs $2,969 today and provides cash flows at the end of each year for 21
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Question:
An investment costs $2,969 today and provides cash flows at the end of each year for 21 years. The investments expected return is 9.0%. The projected cash flows for Years 1, 2, and 3 are $138, $284, and $350, respectively. What is the annual cash flow received for each of Years 4 through 21 (i.e., 18 years)? Assume the same payment for each of these years.(Round answer to 2 decimal places. Do not round intermediate calculations).
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