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Imprudential, Incorporated, has an unfunded pension liability of $ 4 5 0 million that must be paid in 2 0 years. To assess the value

Imprudential, Incorporated, has an unfunded pension liability of $450 million that must be paid in 20 years. To assess the value of the firm's stock, financial analysts want to discount this liability back to the present. If the relevant discount rate is 5.2 percent, what is the present value of this liability? (Do not round intermediate calculations. Enter your answer in dollars, not millions of
dollars, rounded to 2 decimal places, e.g.,1,234,567.89.)
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