Question: * Your answer is incorrect. You are buying a sofa. You will pay $200 today and make three consecutive annual payments of $300 in the

* Your answer is incorrect. You are buying a sofa. You will pay $200 today and make three consecutive annual payments of $300 in the future. The real rate of return is 12.0 percent, and the expected inflation rate is 4 percent. What is the actual price of the sofa? (Do not round factor values Round final answer to 2 decimal places, eg. 15.25.) Actual price 891.84

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