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a. What is the present value of a 3-year annuity of $240 if the discount rate is 7%? (Do not round intermediate calculations. Round your
a. What is the present value of a 3-year annuity of $240 if the discount rate is 7%? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
b. What is the present value of the annuity in (a) if you have to wait an additional year for the first payment? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
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