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Edward is planning for his retirement this year. One option that has been presented to...

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Accounting

Edward is planning for his retirement this year. One option that has been presented to him is the purchase of an annuity that would provide a $42,000 payment each year for the next 10 years. Click here to view the factor table. Calculate how much Richard should be willing to pay for the annuity if he can invest his funds at 10%.(For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, e.g.58,971.)

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