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Mark is now 53, is currently employed by a firm that guarantees him a fixed retirement bonus of $75,000 on the day of his retirement.

Mark is now 53, is currently employed by a firm that guarantees him a fixed retirement bonus of $75,000 on the day of his retirement. If Mark is planning to retire at age 68. What is the present value of that bonus if the rate of return on investments is expected to be 4% per year for the next 15 years?

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