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I think it would be "07".

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No.

For exponent = 1 mod 4 the digits are 07

For exponent = 2 mod 4 the digits are 49

For exponent = 3 mod 4 the digits are 43

For exponent = 0 mod 4 the digits are 01

Since 124 = 0 mod 4, the answer is 01

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