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Jonah has the choice of paying Rita $10,000 today or $40,000 in ten years. Assume Jonah can earn a 10 percent after-tax rate of return.

Jonah has the choice of paying Rita $10,000 today or $40,000 in ten years. Assume Jonah can earn a 10 percent after-tax rate of return. What is the present value of the $40,000 payment due in 10 years?

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