Question: 1 point Brian owns a corn dog stand that will generate $77,000 per year forever, but since corn dogs are out of favor, the first

1 point Brian owns a corn dog stand that will generate

1 point Brian owns a corn dog stand that will generate $77,000 per year forever, but since corn dogs are out of favor, the first cash flow won't occur until 6 years from today. Suppose he wants out of the corn dog business and decides to sell the stand to a friend. If the discount rate is 7%, what is TODAY's fair price for Brian's corn dog stand? Enter your answer as a positive number rounded to the nearest dollar

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