Question: Consider an asset which has no initial cost but for which there is an expenditure of $3,000 at the end of the first year. The

Consider an asset which has no initial cost but for which there is an expenditure of $3,000 at the end of the first year. The net cost at the end of year 2 is $5,000. With an interest rate of 10%, what is the net present value of this cost stream at the beginning of period 1 (which is the same as the end of period 0)

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