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A business owner is retiring soon and wants to sell some of his stock and buy an annuity that will provide him with income of

A business owner is retiring soon and wants to sell some of his stock and buy an annuity that will provide him with income of $40,000 per year for 30 years, beginning a year from today. The current rate on these annuities is 7.25%. How much should this annuity cost?
$503,512.37
$571,292.88
$455,097.72
$484,146.51
$561,609.95
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