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Mike Carlson will receive $18,000 a year from the end of the third year to the end of the 18th year (16 payments). The discount

Mike Carlson will receive $18,000 a year from the end of the third year to the end of the 18th year (16 payments). The discount rate is 8%. The present value today of this deferred annuity is: Use Appendix B and Appendix D to calculate the answer.

A. $141,616

B. $117,812

C. $131,006

D. $136,536

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