An investment will pay $16,400 at the end of each year for eight years and a one-time payment of $164,000 at the end of the eighth year. (EV of $1. PV of $1. EVA of $1, and PVA of $1) Note: Use the appropriate factor(s) from the tables provided. Required: Determine the present value of this investment using a 6 percent annual interest rate. Note: Round your intermediate calculations and final answer to nearest whole dollar. Present value of investment

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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An investment will pay $16,400 at the end of each year for eight years and a one-time payment of $164,000 at the end of the eighth
year. (EV of $1. PV of $1. EVA of $1, and PVA of $1)
Note: Use the appropriate factor(s) from the tables provided.
Required:
Determine the present value of this investment using a 6 percent annual interest rate.
Note: Round your intermediate calculations and final answer to nearest whole dollar.
Present value of investment
Transcribed Image Text:An investment will pay $16,400 at the end of each year for eight years and a one-time payment of $164,000 at the end of the eighth year. (EV of $1. PV of $1. EVA of $1, and PVA of $1) Note: Use the appropriate factor(s) from the tables provided. Required: Determine the present value of this investment using a 6 percent annual interest rate. Note: Round your intermediate calculations and final answer to nearest whole dollar. Present value of investment
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