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An insurance company is trying to sell you an investment product that will generate $5,000 per year forever from the next year (t = 1).

An insurance company is trying to sell you an investment product that will generate $5,000 per year forever from the next year (t = 1). If the discount rate for this investment is 14%, how much would you pay for this product today (t = 0)? Note: Write your answer with 2 or more decimal places.

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