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Your friend offers to pay you an annuity of $8,100 at the end of each year for 3 years in return for cash today. You

Your friend offers to pay you an annuity of $8,100 at the end of each year for 3 years in return for cash today. You could earn 5.5% on your money in other investments with equal risk. What is the most you should pay for the annuity?

a. $21,857.86 b. $21,853.26 c. $21,844.06 d. $21,848.66 e. $21,862.46

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