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Suppose a condo generates $23,000 in cash flow in the first year. If the cash flows grow at 5% per year, the interest rate is

Suppose a condo generates $23,000 in cash flow in the first year. If the cash flows grow at 5% per year, the interest rate is 14%, and the building lasts forever, what is the present value of the condo's cash flow? Round to two decimal places.

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