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An annuity-immediate makes payments of $10 per year for 10 years. An annuity-due that makes 12 annual payments of X has the same present

An annuity-immediate makes payments of $10 per year for 10 years. An annuity-due that makes 12 annual payments of X has the same present value as the annuity-immediate. The annual effective interest rate is 8%. Calculate X.

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