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What is the value today of a money machine that will pay $8,508.00 per year for 7.00 years? Assume the first payment is made today

What is the value today of a money machine that will pay $8,508.00 per year for 7.00 years? Assume the first payment is made today and that there are 7.0 total payments. The interest rate is 12.00%.

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