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An eight year annuity that makes 48 bimonthly payments of $6200 will begin 10 years from now with the first payment coming ten years and

An eight year annuity that makes 48 bimonthly payments of $6200 will begin 10 years from now with the first payment coming ten years and two months from now. If the discount rate is 10.7 percent compounded bimonthly, what is the present value of the annuity?

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