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The word 'investment' is a noun, a word for the act of laying out money for an enterprise with the expectation of profit; the person or thing for which money or a commitment of something other than money has been made with the expectation of some worthwhile result; a word for a thing.

A pronoun is a word that takes the place of a noun in a sentence. The pronoun that takes the place of the noun 'investment' is it.

Example: That investment is a good idea. It will defer the taxes.

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