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Consider an investment that will pay you $500 in the first year. This payment will grow...

Consider an investment that will pay you $500 in the first year. This payment will grow by 10 percent each year through year 12. Starting in year 13 it will pay you $1,200 annually for 15 years. After that, it will pay you nothing. If your required rate of return on this investment is 14 percent, how much would you be willing to pay for it today? Round your answer to the nearest whole dollar.

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