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What is the present value of $27 received at the end of each year for 2 years? Assume the annual effective rate of interest is

What is the present value of $27 received at the end of each year for 2 years? Assume the annual effective rate of interest is 9%. The first payment will be received one year from today (round to the nearest $1).

a: $42

b: $54

c: $88

d: $47

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