Question: Peter Lynchpin wants to sell you an investment contract that pays equal $ 1 3 , 4 0 0 amounts at the end of each

Peter Lynchpin wants to sell you an investment contract that pays equal $13,400 amounts at the end of each of the next 24 years. If you require an effective annual return of 7 percent on this investment, how much will you pay for the contract today? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.

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