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Question 17 (7 points) A California couple is selling their small dairy farm to a developer, but they wish to defer receipt of the money
Question 17 (7 points) A California couple is selling their small dairy farm to a developer, but they wish to defer receipt of the money until 3 years from now, when they will be in a lower tax bracket. Find the amount the developer should deposit at the end of every 3 months in an annuity that pays 4% compounded quarterly so that enough will be available to pay the couple $750,000 in 3 years. 1) $248,134.34 2) $5.912.66 3) $59,136.59 4) $59,316.95
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