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Joey will receive $800 at the end of the first, second and third year. Starting at the end of fourth year, Joey will receive annual

Joey will receive $800 at the end of the first, second and third year. Starting at the end of fourth year, Joey will receive annual payments of $1000 forever. If the interest rate is 8 percent compounded yearly, the present value of this uneven cash flow stream is _____.

(Round the answer to the nearest whole dollar.)

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