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What is the present value of $3,425 per year, at a discount rate of 9 percent, if the first payment is received 6 years from

What is the present value of $3,425 per year, at a discount rate of 9 percent, if the first payment is received 6 years from now and the last payment is received 24 years from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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