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An uncle of yours who is about to retire wants to sell some of his...

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Accounting

An uncle of yours who is about to retire wants to sell some of his stock and buy an annuity that will provide him with income of $73,000 per year for 30 years, beginning a year from today. The going rate on such annuities is 7.25%. How much would it cost him to buy such an annuity today? Select the correct answer. a. $883,567.38 b. $883,574.08 c. $883,560.68 d. $883,587.48 e. $883,580.78

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