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Ajax Corporation has hired Brad O'Brien as its new president. Terms included the company's agreeing to pay retirement benefits of $18,300 at the end of

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Ajax Corporation has hired Brad O'Brien as its new president. Terms included the company's agreeing to pay retirement benefits of $18,300 at the end of each semiannual period for 10 years. This will begin in 3,285 days. If the money can be invested at 8% compounded semiannually, what must the company deposit today to fulfill its obligation to Brad? (Use Table and Table 12.3.) Note: Use 365 days a year. Do not round intermediate calculations. Round your answer to the nearest cent. Present value interest factor of an (ordinary) annuity of \$1 per period at i% for n periods, PVIFA(i,n). Present value of $1 at end of period

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