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Find the present value of the following perpetuity. Perpetuity Payment $120 Made At: beginning Payment Period 1 month Interest Rate 5.3% Conversion Period annually Find

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Find the present value of the following perpetuity. Perpetuity Payment $120 Made At: beginning Payment Period 1 month Interest Rate 5.3% Conversion Period annually Find the present value. Do not approximate the answer. 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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