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c. Calculate the annual cash flows (annuity payments) from a fixed-payment annuity if the present value of the 20 year annuity is $14 million and

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c. Calculate the annual cash flows (annuity payments) from a fixed-payment annuity if the present value of the 20 year annuity is $14 million and the annuity earns a guaranteed annual return of 13 percent. The payments are to begin at the end of six years. (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places. (e.g. 32.16)) 22:05 28

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