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what is the present value of annuity of $40,000 per year, with thefirst cash flow received three years from today and the last on received

what is the present value of annuity of $40,000 per year, with thefirst cash flow received three years from today and the last on received 8 years from today?

use a discount rate of 8%. support your answer with calculations and a cash flow timeline.

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