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An oil company believes that 8 years from now it will be required to pay $4,000,000 per year to purchase landThe first of the annual

An oil company believes that 8 years from now it will be required to pay $4,000,000 per year to purchase landThe first of the annual payments will occur at the end of year 8.The company invests $10,224,000 today.Assuming an annual interest rate of 12% for all years throughout the future, for how many years will the firm be able to make the annual payments of $4,000,000?

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