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An investment offers $5281 per year for 11 years, with the first payment occurring one year from now. If the required return is 2.9 percent,

An investment offers $5281 per year for 11 years, with the first payment occurring one year from now. If the required return is 2.9 percent, what is the value of the investment? (Round time value factors to 6 decimal places and final answer to the nearest dollar amount.

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