Question: Please show work by hand (with equations) and with using excel formula. Thank you. Calculate the present value (PV) of an annuity stream of 5

Please show work by hand (with equations) and with using excel formula. Thank you.

Calculate the present value (PV) of an annuity stream of 5 annual cash flows of $1,200, with the first cash flow received in one year, assuming a discount rate of 10%.

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