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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

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 $250 annually if the next payment occurs one year from today? The market interest rate is 5.6 percent. (Round your answer to 2 decimal places. (e.g., 32.16))

Present value $

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