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Sophia is offered an investment that will pay $1100 in year 1; nothing for the next 4 years; and finally, $2400 for the last 3

Sophia is offered an investment that will pay $1100 in year 1; nothing for the next 4 years; and finally, $2400 for the last 3 years. You can earn 8% on similar investments.

What is the most you should pay for this one?

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