Question: Drucci Corp, estimates it will need $2 million to pay for environmental cleanup costs on one of its mines when the mines closes in six

Drucci Corp, estimates it will need $2 million to pay for environmental cleanup costs on one of its mines when the mines closes in six years. It wants to make six annual payments , starting today so that it can accumulate the $2 million at the end of six years. What is the amount of the annual payment if the funds can be invested at an 8% return?

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