Question: Present value with multiple cash flows: Saul Cervantes has just purchased some equipment for his landscaping business. For this equipment he must pay the following

Present value with multiple cash flows: Saul Cervantes has just purchased some equipment for his landscaping business. For this equipment he must pay the following amounts at the end of each of the next five years: $10,450, $8,500 , $ 9,675 $ 12,500 and $ 11,635. If the approriate discount rate is 10.875 percent, what is the cost im today's dollars of the equipment Saul purchased today?

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