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What is the value today of $1,200 per year, at a discount rate of 8 percent, if the first payment is received 7 years from

What is the value today of $1,200 per year, at a discount rate of 8 percent, if the first payment is received 7 years from now and the last payment is received 27 years fror today? Multiple Choice $7,423.25 $2.99712 $7,424,52 $7.57474

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