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An annuity makes 10 annual payments of $5,000. If the payments begin 8 years from today, what is the present value of the annuity? Assume

An annuity makes 10 annual payments of $5,000. If the payments begin 8 years from today, what is the present value of the annuity? Assume a discount rate of 3%.

Answer Format: Positive number rounded to 2 decimal places. (An answer of $100.125 would be entered as 100.13)

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