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You are considering the following investment opportunity Starting 5 years from today, you will receive $1000 and it will grow 3% annually forever. If the

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You are considering the following investment opportunity Starting 5 years from today, you will receive $1000 and it will grow 3% annually forever. If the market interest rate is 8%, calculate the present value of this investment The present value of this investment is $(Round the answer to two decimal places)

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