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What is the present value of a 6-year annuity of $2,000 per period in which payments come at the beginning of each period? The interest rate is 9 percent. Use Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods. When using Appendix D to find the present value of this annuity due, subtract 1 from n and add 1 to the table value. (Do not round intermediate calculations. Round your final answer to 2 decimal places. )

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Financial Management, Finance

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