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You have received an inheritance in the form of a 7-year annuity paying $5000 per year. Now is Year 0 and you will receive your

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You have received an inheritance in the form of a 7-year annuity paying $5000 per year. Now is Year 0 and you will receive your first payment 4 years from now, i.e., in Year 4. You will receive the last payment in Year 10. Assuming that the appropriate annual interest rate is 6%, what is the present value of your inheritance

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