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Could you explain it step by step? What is the present value of $1,400 a year at a discount rate of 8 percent if the

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What is the present value of $1,400 a year at a discount rate of 8 percent if the first payment is recelved 7 years from now and you receive a total of 25 annual payments? Multiple Choice $9.41769 $9,238.87 $9,333.33

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