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James is planning for his retirement this year. One option that has been presented to him is the purchase of an annuity that would provide

James is planning for his retirement this year. One option that has been presented to him is the purchase of an annuity that would provide a $ 30,000 payment each year for the next 10 years. Calculate how much James should be willing to pay for the annuity if he can invest his funds at 6%.

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