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Your firm has been offered a deal that calls for a payment from your firm of $100,000 upfront (today) and annual payments to your firm

Your firm has been offered a deal that calls for a payment from your firm of $100,000 upfront (today) and annual payments to your firm of $50,000, beginning one year from now for a period of eight years. If the firm has a discount rate of 6%, what is the Equivalent Annual Annuity for this deal?

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