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An investment offers $6720 per year for 12 years, with the first payment occurring one year from now. If the required return is 9 percent,

An investment offers $6720 per year for 12 years, with the first payment occurring one year from now. If the required return is 9 percent, what is the value of the investment?

Select one:

a. $52,115.50

b. $46,649.16

c. $55,442.80

d. $48,120.07

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