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Your financial advisor informs you of an investment that will pay you $ 1 2 , 0 0 0 per year for 1 0 years

Your financial advisor informs you of an investment that will pay you $12,000 per year for 10 years starting 30 years from now. Your advisor knows you do not have enough money available to afford this now, so she says you would not need to pay for this investment for 1 year. The current discount rate is 5%. How much would you be willing to pay for this investments next year? *Answer needs to be to the nearest cent.

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