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Travis will receive two payments: $9,720 at the end of year 2025 and $9,338 at the end of year 2026. The discount rate for Travis

Travis will receive two payments: $9,720 at the end of year 2025 and $9,338 at the end of year 2026. The discount rate for Travis is 5% for year 2025 and 6.7% for year 2026. What is the present value of the payments at the beginning of year 2026?

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