A company must repay the bank a single payment of $24,000 cash in 4 years for a loan it entered into. The loan is at 8% interest compounded annually. The present value of 1 (single sum) at 8% for 4 years is. 7350. The present value of an annuity (series of payments) at 8% for 4 years is 3.3121. The present value of the loan (rounded) is
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