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With interest at 8.9 % compounded annually, how much money is required today to provide a perpetual income of $27,040 per year? Assume no money

With interest at 8.9 % compounded annually, how much money is required today to provide a perpetual income of $27,040 per year? Assume no money is withdrawn or deposited during any year. (Enter your answer as a number without the dollar sign.)

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