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Patricia and Joe Payne are divorced. The divorce settlement stipulated that Joe pay $505 a month for their daughter Suzanne until she turns 18 in

Patricia and Joe Payne are divorced. The divorce settlement stipulated that Joe pay $505 a month for their daughter Suzanne until she turns 18 in 3 years. Interest is 6% a year. How much must Joe set aside today to meet the settlement? (Do not round intermediate calculations. Round your answer to the nearest cent.)

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