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You have just been notified that you will receive $8,500 a year for the next 15 years from an inherited trust. If the interest rate

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You have just been notified that you will receive $8,500 a year for the next 15 years from an inherited trust. If the interest rate is 10 percent, how much should you be willing to accept today in exchange for the annual payments? (Enter your answer as a positive number rounded to 2 decimal places.)

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