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# What is the present value of 7 receipts of $2,950 each received at the beginning of each period, discounted at 9% compounded interest?

What is the present value of 7 receipts of $2,950 each received at the beginning of each period, discounted at 9% compounded interest? **(Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)**

**What is the present value? Please show work. **