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An investment promises to pay you $6,000 per year starting in 5 years. The cash flow from the investment is expected to increase by 3%

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An investment promises to pay you $6,000 per year starting in 5 years. The cash flow from the investment is expected to increase by 3% per year forever. If alternative investments of similar risk earn a retum of 13% per year, determine the maximum you would be willing to pay for this investment today, Enter your response below (rounded to 2 decimal places). Number

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