How much will you pay for the


The Maybe Pay Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $24291 per year forever. If the required return on this investment is 9.4 percent, how much will you pay for the policy? (Round time value factors to 6 decimal places and final answer to the nearest dollar amount. Omit the "$" sign and commas in your response. For example, $123,456 should be entered as 123456.)

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Financial Management: How much will you pay for the
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