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You have received an inheritance that is to be paid in 44 equal sums of $8,000 with the first payment arriving immediately and continuing each

You have received an inheritance that is to be paid in 44 equal sums of $8,000 with the first payment arriving immediately and continuing each year. What is the present value of this inheritance? You have decided to use the risk-free rate to discount these payments. The annual risk-free rate is 3%.

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