Calculate the present value of this investment

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Reference no: EM131892157

Goldman is offering a 10-year annuity. The first cash flow of $100 will be received one year from today. The subsequent cash flows are expected to grow at 5% per year. Assuming investors require a 9% rate of return on their investment, calculate the present value of this investment. (Round to 2 decimals)

Reference no: EM131892157

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