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A pirate signs a contract for 40,000 gold doubloons per year for his services with his first payment to be received today (naturally). Find the

A pirate signs a contract for 40,000 gold doubloons per year for his services with his first payment to be received today (naturally). Find the present value of this contract if he commits to providing his maritime services for 25 years assuming the discount rate is 6.5%. (Provide your solution as decimal with two digits of accuracy.)

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