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A six-year annuity that makes 24 quarterly payments of $6,000 will begin 7 years from now with the first payment coming 7.25 years from now.

A six-year annuity that makes 24 quarterly payments of $6,000 will begin 7 years from now with the first payment coming 7.25 years from now. If the discount rate is 10.1 percent compounded quarterly, what is the present value of the annuity?

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