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Pierce owns an annuity which pays him $100 per year in 2023,2024 and 2025 . If the PV of the annuity today is less than

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Pierce owns an annuity which pays him $100 per year in 2023,2024 and 2025 . If the PV of the annuity today is less than the FV in 2025 , what do you know about Pierce's required return (r)? r>0% r

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