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Your aunt has gifted you a growing perpetuity. The first payment will occur in a year and will be $ 3 , 1 1 0

Your aunt has gifted you a growing perpetuity. The first payment will occur in a year and will be $3,110. Each year after that, on the anniversary of the last payment, you will receive a payment that is 2.0% larger than the last payment. This pattern of payments will go on forever. If the interest rate is 7.0% per year, the value of the bequest today is closest to?

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