Question: The Uptown Development project is expected to provide a cash flow of $18,600 next year with an annual increase of 3.5 percent for 15 years.

The Uptown Development project is expected to provide a cash flow of $18,600 next year with an annual increase of 3.5 percent for 15 years. After that, the project will be worthless. What is the present value of this project at a discount rate of 17 percent, compounded annually? Please use Excel.

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