Question: Your small firm invests $ 1 2 0 , 7 7 8 today and expects to receive 8 annual payments of $ 2 1 ,

Your small firm invests $120,778 today and expects to receive 8 annual payments of $21,450(the first payment will be paid one year from today). If the appropriate interest rate to use of 10% per year, what is the net present value (NPV)? Express your answer accurate and rounded to the nearest penny.

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