Question: Your machine operator is becoming more productive, and generates additional profit each year. You expect to receive $20,000 in profit at the end of this

Your machine operator is becoming more productive, and generates additional profit each year. You expect to receive $20,000 in profit at the end of this year, but this will increase 5% a year for the next 10 years. If you have an 8% interest rate on your investments, what is the Present Value of the profits over the next 10 years?

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