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1. Consider a deferred annuity with 13 annual payments of $2,000 starting at the end of year 3. If the discount rate is 9%, what

1. Consider a deferred annuity with 13 annual payments of $2,000 starting at the end of year 3. If the discount rate is 9%, what is the present value of this deferred annuity? Round to the nearest dollar.

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