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Larry's Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $34,000 per year forever. A representative

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Larry's Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $34,000 per year forever. A representative for the companytells you the policy costs $590,000.

At what discount rate would this be a fair deal?(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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