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What is the present value of receiving $1,200 per year, at an annual discount rate of 11 percent, if the first payment is received 7

What is the present value of receiving $1,200 per year, at an annual discount rate of 11 percent, if the first payment is received 7 years from now and the last payment is received 25 years from now?

A. $2,202.89
B. $4,928.86
C. $9,407.15
D. $5,029.45
E. $4,941.12

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