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-Q- You are offered an annuity product that will pay you $36,000 per year for 20 years in retirement. If you believe the appropriate discount

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You are offered an annuity product that will pay you $36,000 per year for 20 years in retirement. If you believe the appropriate discount rate is 8%, then what is the annuity worth to you today? Round to the nearest 0.01.

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