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You are given an annuity immediate paying 15 annually for twenty years. After the twenty years, the payments decrease by 1 per year until it

You are given an annuity immediate paying 15 annually for twenty years. After the twenty years, the payments decrease by 1 per year until it reaches a payment of 1. The payments of 1 continue forever. The annual effective rate of interest is 5%. Calculate the present value of this annuity.

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