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Question 8 (2 points) John was injured in an accident, and the insurance company has offered him the choice of $40,000 per year for 15

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Question 8 (2 points) John was injured in an accident, and the insurance company has offered him the choice of $40,000 per year for 15 years, with the first payment being made today, OR a lump sum to be paid off today. If the required rate of return is 7.5%, what should be the Present Value of this lump sum amount be today? $326,603.43 $353,084.79 $389.818.72 $379,566.15 $351,098.69

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