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Your son is about to start kindergarten in a private school. Currently, the tuition is $12,000...

Your son is about to start kindergarten in a private school. Currently, the tuition is $12,000 per year, payable at the start of the school year. You expect annual tuition increases to average 6% per year over the next 13 years. Assuming that you son remains in this private school through high school and that your current interest rate is 6%, then the present value of your sonʹs private school education is closest to:
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