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Compute the present value of an annuity of $ 763 per year for 20 years, given a discount rate of 8 percent per annum. Assume

Compute the present value of an annuity of $ 763 per year for 20 years, given a discount rate of 8 percent per annum. Assume that the first cash flow will occur one year from today (that is, at t = 1).

Round your answer to 2 decimal places; record your answer without commas and without a dollar sign.

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