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John and Jen will receive $40,000 from their trust fund in 9.75 years. Their discount rate is 5 percent per quarter (note there are 3

image text in transcribed John and Jen will receive $40,000 from their trust fund in 9.75 years. Their discount rate is 5 percent per quarter (note there are 3 months in one quarter). How much would they be willing to sell the trust fund for today? Round your answer to two digits. Note that there are four compounding periods in one year

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