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An investor purchasing a British consol is entitled to receive annual payments from the British government forever. What is the price of a consol that

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An investor purchasing a British consol is entitled to receive annual payments from the British government forever. What is the price of a consol that pays $50 annually if the next payment occurs one year from today? The market rate is 2.9 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Present value

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