You produced a piece of music and expect to receive $20,000 per year from a...

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Finance

You produced a piece of music and expect to receive $20,000 per year from a record company for the next 15 years. If the relevant interest rate is 8 percent, what is the minimum amount for which you should sell this annuity for today?

Group of answer choices

543,042

171,190

20,000

156,420

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