Question: Someone will pay you $6,000 starting next year, and will increase the annual payment by 3% each year for 18 years. If the applicable discount

Someone will pay you $6,000 starting next year, and will increase the annual payment by 3% each year for 18 years. If the applicable discount rate is 10.3%, how much is this stream of cash flows worth today? Round to the nearest cent.

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