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Your first job out of college will pay you $56,000 in year 1 (exactly one year from today), growing at a rate of 3.4% per
Your first job out of college will pay you $56,000 in year 1 (exactly one year from today), growing at a rate of 3.4% per year thereafter. You will also receive a one time bonus of $33,000 at the same time as your first salary. You plan to retire in 41 years (you'll receive 41 years of salary). If the applicable discount rate is 6%, what is the present value of these future earnings today? Round to the nearest cent.
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