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14. Present Value of Annuity. You are entering into a contract that will provide you with an income of $165,000 each year for the next

14. Present Value of Annuity. You are entering into a contract that will provide you with an income of $165,000 each year for the next 40 years. If the annual interest rate is 8 percent, what is the present value of that stream of payments?

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