Question: You are comparing two annuities with equal present values. The applicable discount rate is 10%. One annuity will pay $5,000 annually, at the beginning of

You are comparing two annuities with equal present values. The applicable discount rate is 10%. One annuity will pay $5,000 annually, at the beginning of each year, for 40 years. The second annuity will pay annually, at the end of each year, for 40 years. What should be the annual payment for the second annuity?

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