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A perpetuity pays $1,526 annual cash flows that goes on forever, but the first cash flow doesn't occur until3 years from today. If the discount

A perpetuity pays $1,526 annual cash flows that goes on forever, but the first cash flow doesn't occur until3 years from today. If the discount rate is 4%, what is the present value of this series of cash flows? Round your answer to the nearest penny.

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