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(1 point) A gold mine is expected to yield an annual income of $70000 for the next 30 years, after which it will be sold

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(1 point) A gold mine is expected to yield an annual income of $70000 for the next 30 years, after which it will be sold for $3850. An investor wants an annual return on his investment of 4%. If he can establish a sinking fund earning an annual interest rate of 2%, how much should he pay for the mine? Answer = $

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