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An investment promises to pay you $1,500 per year forever with the first payment in 6 years. If alternative investments of similar risk earn 5%

An investment promises to pay you $1,500 per year forever with the first payment in 6 years. If alternative investments of similar risk earn 5% per year, determine the maximum you would be willing to pay for this investment.

Enter your response below (rounded to 2 decimal places).

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