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If you are willing to pay $25,964.00 today to receive a perpetuity with the first payment occurring next year then the payment must be $______.

If you are willing to pay $25,964.00 today to receive a perpetuity with the first payment occurring next year then the payment must be $______. Assume a 8.00% discount rate.
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Answer format: Currency: Round to: 2 decimal places.

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