Lefler company is considering purchasing equipment the, Financial Accounting

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Lefler company is considering purchasing equipment the

Lefler Company is considering purchasing equipment. The equipment will produce semi-annual cash inflows of $22,000 for 3 years. Lefler requires a minimum annual rate of return of 8%. Assuming that the cash inflows are received at the end of each six-month period, what is the maximum price Lefler should pay for this equipment, rounded to whole dollars?

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