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What is the present value of $1,400 a year at a discount rate of 8 percent if the first payment is received 7 years from

What is the present value of $1,400 a year at a discount rate of 8 percent if the first payment is received 7 years from now and you receive a total of 25 annual payments?

Question 5 options:

$9,417.69

$9,238.87

$9,333.33

$9,420.12

$9,881.72

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