You are considering the purchase of an investment that would pay you $5,000 per year for Years 1-5, $3,000 per year for Years 6-8, and $2,000 per years for Years 9-10. If you require a 10 percent rate of return and the cash flows occur at the end of each year, then how much should you be willing to pay for this investment?

You are considering the purchase of an investment that would pay you $5,000 per year for Years 1-5, $3,000 per year for Years 6-8, and $2,000 per years for Years 9-10. If you require a 10 percent rate of return and the cash flows occur at the end of each year, then how much should you be willing to pay for this investment?

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