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What is the present value of $ 2 , 0 0 0 paid each year forever, assuming a discount rate of 2 % and the

What is the present value of $2,000 paid each year forever, assuming a discount rate of 2% and the first payment occurs one year from now? Equivalently: What amount would you have to invest today at an interest rate of 2% to generate an annual payment of $2,000 forever? Please round your answer to the nearest hundredth.

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