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The present value of a 4 - year annuity is $ 4 7 , 0 0 0 . The first annual cash flow occurs one

The present value of a 4-year annuity is $47,000. The first annual cash flow occurs one year from today. If the discount rate is 4.8%, what is the payment amount? Enter your answer as a positive number, and round to the nearest penny.
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