How much is he willing to pay for this money machine, Financial Accounting

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How much is he willing to pay for this money machine

Problem

Derek has the opportunity to buy a money machine today. The money machine will pay Derek $46,948.00 exactly 16.00 years from today. Assuming that Derek believes the appropriate discount rate is 4.00%, how much is he willing to pay for this money machine?

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Financial Accounting: How much is he willing to pay for this money machine

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Financial Accounting: How much is he willing to pay for this money machine

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