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Given a 5 percent interest rate, compute the present value of payments made in years 1, 2, 3, and 4 of $1,350, $1,650, $1,650, and

Given a 5 percent interest rate, compute the present value of payments made in years 1, 2, 3, and 4 of $1,350, $1,650, $1,650, and $1,750. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

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