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Impridential, Inc., has an unfounded pension liability of $ 4 7 5 million that must be paid in 2 0 years. To assess the value

Impridential, Inc., has an unfounded pension liability of $475 million that must be paid in 20 years. To assess the value of the firms stock, financial analysts want to discount this liability back to the present. If the relevant discount rate is 5.3 percent, what is the present value of this liability?

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