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What is the current economic value of an annuity due consisting of 22 quarterly payments of $700, if money is worth 6% compounded quarterly for

What is the current economic value of an annuity due consisting of 22 quarterly payments of $700, if money is worth 6% compounded quarterly for the first three years, and 7% compounded quarterly thereafter?(Do not round intermediate calculations and round your final answer to 2 decimal places.)

The present value: $____

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