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A wealthy benefactor contributes $10,000,000 to an endowment fund that will pay the Little Sisters of the Poor $300,000 every year forever. What is the

A wealthy benefactor contributes $10,000,000 to an endowment fund that will pay the Little Sisters of the Poor $300,000 every year forever. What is the value of the annuity payment? Assume a discount rate of 15 percent.

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