Question: Suppose that you have inherited an annuity that will pay $2,500 one year from now, each of the following 29 annual payments will be 7%

Suppose that you have inherited an annuity that will pay $2,500 one year from now, each of the following 29 annual payments will be 7% larger than the prior payment. Assuming that the annual opportunity cost of capital is 15%, what is the value of this annuity today? Round your final answer to two decimals. Show your work, and provide excel formulas used (If necessary).

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