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On August 1, Rachael Westlake joined a Christmas Club. Her bank will automatically deduct $115 from her checking account at the end of each month

On August 1, Rachael Westlake joined a Christmas Club. Her bank will automatically deduct $115 from her checking account at the end of each month and deposit it into her Christmas Club account, where it will earn 6.875% interest. The account comes to term on December 1. What is the present value of the given annuity? (Round your answers to the nearest cent.)

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