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In settlement of a tort claim, Mr. Johnson recently received an annuity that will pay him $78,000 on December 31 for each of the next

In settlement of a tort claim, Mr. Johnson recently received an annuity that will pay him $78,000 on December 31 for each of the next 30 years. The first payment will be on December 31, 2024. A. Assuming a discount rate of 6%, and using the appropriate chart in the text, what is the present value of Mr. Johnson's annuity?

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