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FJD firm uses discounted payback to assess projects and the firm wants to have a discounted payback of 7 years of less. They now have

FJD firm uses discounted payback to assess projects and the firm wants to have a discounted payback of 7 years of less. They now have a new project that can generate a constant annual payment forever and costs $23237. The cost of borrowing is 2% per year for the project. Calculate the minimum amount for the annual payment that would satisfy FJD firm's liquidity concern?

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