Question: You are looking at purchasing a lemonade stand from your best friend. Your analysis shows that the stand will generate the following cash flows in

You are looking at purchasing a lemonade stand from your best friend. Your analysis shows that the stand will generate the following cash flows in each of the following years: Year 1: $0 Year 2: $1000 Year 3: $0 Year 4: $2000 Year 5: $1500 If you require a 9% rate of return on your investment in the lemonade stand, what would be a fair price to pay for the stand? To nearest $0.01

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