Question: Problem 4 - 2 9 Annuity Present Values What is the value today of a 1 5 - year annuity that pays $ 5 9

Problem 4-29 Annuity Present Values
What is the value today of a 15-year annuity that pays $590 per year? The annuitys first payment occurs six years from today. The discount interest rate is 12 percent for Years 1 through 5 and 14 percent thereafter. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)

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