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A loan contract will provide Lixin with payments of $5200 at the end of every six months. The contract has eight years to run. Lixin

A loan contract will provide Lixin with payments of $5200 at the end of every six months. The contract has eight years to run. Lixin wants to sell the contract.

How much will an investor pay for this loan contract if she wants to build in a rate of return of 7.2% compounded monthly? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

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