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You are offered an investment that will pay you (and your heirs) 50,000 income per year forever, beginning one year from now. Assuming an annual

You are offered an investment that will pay you (and your heirs) 50,000 income per year forever, beginning one year from now. Assuming an annual risk-free interest rate of 7%, what would you expect to pay for this offer? Round your answer to the nearest euro.

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