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Consider an inheritance that pays the beneficiary an annuity of $ 400 that begins immediately (an annuity due) and then annually in year 1 through

Consider an inheritance that pays the beneficiary an annuity of $400that begins immediately (an annuity due) and then annually in year 1 through year14(for a total of15years) with one exception - the payment in year9, and only9, is not $400but $0. Using an interest rate of3%, determine the present value of this cash flow stream.

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