An investment offers $3,300 per year for 19 years, with the first payment occurring one year from now.
If the required return is 8 percent, the present value of the investment is $___.
If the payments occurred for 34 years, the present value of the investment would be $___.
If the payments occurred for 99 years, the present value of the investment would be $___.
If the payments last forever, the present value would be $___.