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You own a bond issued by the Canadian Pacific railroad that promises to pay the holder $4971 annually forever.The bond is currently selling for 49710.

You own a bond issued by the Canadian Pacific railroad that promises to pay the holder $4971 annually forever.The bond is currently selling for 49710. You plan to sell the bond 11 years from now.If similar investments yield 11% at that time, how much will the bond be worth?

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