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Robert wants to buy bonds in a perpetual fund that will provide payments of $ 7 , 5 0 0 at the end of each

Robert wants to buy bonds in a perpetual fund that will provide payments of $7,500 at the end of each year in perpetuity. What amount must Robert purchase the bonds for today, if interest is 3.8% compounded annually and payments are deferred for four years? (Rounded to the nearest dollar)

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