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1. Suppose an investment that pays $48,000 per year for the foreseeable future . If the required return on this investment is 9 percent, how

1. Suppose an investment that pays $48,000 per year for the foreseeable future. If the required return on this investment is 9 percent, how much are you willing to pay for the investment today? (Do not include the dollar sign ($), and round your answer to two decimal places.

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