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A perpetuity will pay $4,000 at the end of each year starting 1 year from today. If the cost of capital is 7.2%, what is

A perpetuity will pay $4,000 at the end of each year starting 1 year from today. If the cost of capital is 7.2%, what is the present value of the perpetuity?

Answer Format: Positive number rounded to 2 decimal places. (An answer of $100.125 would be entered as 100.13)

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