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What is the value today of $1,400 per year, at a discount rate of 11 percent, if the first payment is received 5 years from

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What is the value today of $1,400 per year, at a discount rate of 11 percent, if the first payment is received 5 years from now and the last payment is received 21 years from today? Multiple Choice $6,822.44 $6,961.67 $10,668.31 $6,805.24 $2,322.17

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