A loan of P50T whose interest is 15% compounded semiannually, is to be discharged by a series of 10 semiannual payments, the 1st payment to be made 6 months after consummation of the loan. The 1st 6 payments will be P5T each, while the remaining 4 payments will be equal & of such amount that the final payment will liquidate the loan. What is the PV of the 1st 6 payments?

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