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(Present value of an annuity) What is the present value of a(n) 16-year annuity that pays $2,500 annually, given a discount rate of 9 percent?

(Present value of an annuity) What is the present value of a(n) 16-year annuity that pays $2,500 annually, given a discount rate of 9 percent? The present value of the annuity is $ (Round to the nearest cent.)

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