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( Present value of a complex stream ) Don Draper has signed a contract that will pay him $ 6 0 , 0 0 0

(Present value of a complex stream) Don Draper has signed a contract that will pay him $60,000 at the end of each year for the next 6 years, plus an additional $120,000 at the end of year 6. If 9
percent is the appropriate discount rate, what is the present value of this contract?
The present value of the contract is $
(Round to the nearest cent.)
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