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John Roberts is offered an incentive package if he retires after 5 years. After retirement, the incentive package will pay him an additional $20,000 at

John Roberts is offered an incentive package if he retires after 5 years. After retirement, the incentive package will pay him an additional $20,000 at the end of each year for the following 20 years. Assume that the relevant interest rate is 12%, compounded annually, how much is the incentive package worth today?

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