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Find the present value of the following perpetuity. Perpetuity Payment Made At: Payment Period Interest Rate Conversion Period $2,400 end 1 year 11.8% semi-annually The

Find the present value of the following perpetuity.

Perpetuity Payment

Made

At:

Payment Period

Interest Rate

Conversion Period

$2,400

end

1 year

11.8%

semi-annually

The present value is $__.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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