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An annuity pays 1 0 , 0 0 0 per year for five years, with the first payment occurring two years from today. If the

An annuity pays

10, 000

per year for five years, with the first payment occurring two years from today. If the annual discount rate is

4 %,

the present value of the annuity today is closest to: A

. 41, 160 .

. 42, 806 .

. 44, 518 .

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