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You buy an annuity that will pay you $29,500 a year for 14 years. The payments are paid on the first day of each year.

You buy an annuity that will pay you $29,500 a year for 14 years. The payments are paid on the first day of each year. What is the value of this annuity today if the discount rate is 7.4 percent? Value today =$

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