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Mike Carlson will receive $12,000 a year from the end of the third year to the end of the 12th year (10 payments). The discount
Mike Carlson will receive $12,000 a year from the end of the third year to the end of the 12th year (10 payments). The discount rate is 10%. The present value today of this deferred annuity is ____. (Please Explain Work Done To Get Answer)
A. $61,450
B. $42,185
C. $60,909
D. $55,379
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