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Suppose a condo generates $30,000 in cash flow in the first year. If the cash flows grow at 2% per year, the interest rate is

image text in transcribed Suppose a condo generates $30,000 in cash flow in the first year. If the cash flows grow at 2% per year, the interest rate is 11%, and the building lasts forever, what is the present value of the condo's cash flow? Enter your reponse below (rounded to 2 decimal places)

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