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Normandin Inc. has an unfunded pension liability of $575 million that must be paid in 20 years. To assess the value of the firm's stock,

Normandin Inc. has an unfunded pension liability of $575 million that must be paid in 20 years. To assess the value of the firm's stock, financial analyst want to discount this liability back to present. If the relevant discount rate is is 6.8 percent. What is the present value of this liability.

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