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The Sutherland Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $38,000 per year forever.

The Sutherland Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $38,000 per year forever. If the required return on this investment is 6.6%, how much will you pay for the policy? (Round the final answer to 2 decimal places. Omit $ sign in your response.) Present value $716981.13

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