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A 15-year annuity pays $2,300 per month at the end of each month. If the discount rate is 12 percent compounded monthly for the first

A 15-year annuity pays $2,300 per month at the end of each month. If the discount rate is 12 percent compounded monthly for the first seven years and 11 percent compounded monthly thereafter, what is the present value of the annuity? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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