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What is the value today of a 15-year annuity that pays $680 per year? The annuity's first payment occurs six years from today. The

What is the value today of a 15-year annuity that pays $680 per year? The annuity's first payment occurs six years from today. The discount interest rate is 11 percent for Years 1 through 5 and 13 percent thereafter. Show all your steps.

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