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Robben Company is considering investing in an annuity contract that will return $32,000 annually at the end of each year for 17 years. What amount

Robben Company is considering investing in an annuity contract that will return $32,000 annually at the end of each year for 17 years. What amount should Robben Company pay for this investment if it earns an 10% return? (Round answer to 2 decimal places, e.g. 25.25.)

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