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Imprudential, Inc., has an unfunded pension liability of $756 million that must be paid in 30 years. To assess the value of the firms stock,
| Imprudential, Inc., has an unfunded pension liability of $756 million that must be paid in 30 years. To assess the value of the firms stock, financial analysts want to discount this liability back to the present. |
| Required: |
| If the relevant discount rate is 9 percent, what is the present value of this liability? |
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