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Suppose that you will receive annual payments of $21,400 for a period of 22 years. The first payment will be made 7 years from now.

Suppose that you will receive annual payments of $21,400 for a period of 22 years. The first payment will be made 7 years from now. If the interest rate is 7.50%, what is the value of the annuity in year 6,

what is the current value of this stream of cash flows?

(Do not round intermediate calculations. Round your answer to 2 decimal places.)

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