Ronen Consulting has just realized an accounting error that has resulted in an unfunded liability of $380,000
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Question:
Ronen Consulting has just realized an accounting error that has resulted in an unfunded liability of $380,000 due in 29 years. In otherwords, they will need $380,000 in 29 years. ToniFlanders, thecompany's CEO, is scrambling to discount the liability to the present to assist in valuing thefirm's stock.
If the appropriate discount rate is 7 percent, the present value of the $380,000 liability due in 29 years is (Round to the nearestcent.)
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