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An ordinary annuity pays $40,000 per year for 31 years. If the first payment is not received until 25 years from today, what is the

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An ordinary annuity pays $40,000 per year for 31 years. If the first payment is not received until 25 years from today, what is the present value of the annuity? Assume a discount rate of 8%. Answer Format: Enter your answer as a number rounded to 2 decimal places. An answer of 23.456 would be entered as 23.46

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