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You expect to receive equal payments of $53,544 per year starting 5 years from today. The payment will be for 21 years and the insurance

You expect to receive equal payments of $53,544 per year starting 5 years from today. The payment will be for 21 years and the insurance company used a 5.9% discount rate to value this annuity. Given this information, what is the present value of these payments?

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