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Clement Corporation


Clement Corporation. faces a marginal tax rate of 35 percent. One project that is currently under evaluation has a cash flow in the fourth year of its life that has a present value of $10,000 (after-tax). Clement Corporation. assumes that all cash flows occur at the end of the year and the company uses 11 percent as its discount rate. What is the pre-tax amount of the cash flow in year 4? (Round to the nearest dollar.) Present value tables or a financial calculator are required.

    1. $15,181
    2. $23,356
    3. $9,868
    4. $43,375

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