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Beginning in 5 years, (end of years 5, 6 and 7) Sally Mander will receive three annual benefit checks of $25,000 each. If Sally assumes

Beginning in 5 years, (end of years 5, 6 and 7) Sally Mander will receive three annual benefit checks of $25,000 each. If Sally assumes an interest rate of 6%, what is the present value of these checks?

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