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The first of 12 semiannual payments of $3,500 will be made 621 years from today. What is the present value of this deferred annuity using

The first of 12 semiannual payments of $3,500 will be made 621 years from today. What is the present value of this deferred annuity using a discount rate of 8.5% compounded semiannually? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value of deferred annuity

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