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2 6 . Given a stream of positive payments of $ 7 8 0 0 every other year forever, with the first payment occurring one

26. Given a stream of positive payments of $7800 every other year forever, with the first payment occurring one year from today (t=0), and an interest rate of 16 percent compounded daily (365 days per year).
a) Draw the monetary flow diagram associated with the stream of payments.
b) Determine the present value today of the stream of payments:

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