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A perpetuity will pay $949 per year, starting five years after the perpetuity is purchased. (The first payment is precisely 5 years after purchase.) What

A perpetuity will pay $949 per year, starting five years after the perpetuity is purchased. (The first payment is precisely 5 years after purchase.) What is the present value (PV) of this perpetuity on the date that it is purchased, given that the interest rate is 7%?

(Round your answer to the nearest $)

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