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Abe Washington sold some property in Oregon and will receive $40,000 in 5 equal payments of $8,000 at the end of each year from today.

Abe Washington sold some property in Oregon and will receive $40,000 in 5 equal payments of $8,000 at the end of each year from today. What is the present value of these future payments at an interest rate of 7% compounded annually?

Round answer to the nearest dollar. Show work / formula.

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