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Consider a perpetuity with the first cash flow at the end of year 1. If the invested funds of the perpetuity could earn 5% per

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Consider a perpetuity with the first cash flow at the end of year 1. If the invested funds of the perpetuity could earn 5% per year and the perpetuity paid $345 per year, what is the present value of the perpetuity? (round to the nearest dollar)

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