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Your friend promises you an annuity of 10 payments. The first payment of $10 occurs in year 1 and the interest rate is 10%, which

Your friend promises you an annuity of 10 payments. The first payment of $10 occurs in year 1 and the interest rate is 10%, which of the following is right about its present value at time zero?

$77.22

$114.09

$61.45

$24.89

None of the above

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