Anna Joiner is developing a capital investment analysis for her supervisor. The proposed capital investment has an estimated residual value of $5,500 at the end of its five-year life. The company uses a 16 percent minimum rate of return. What is the present value of the residual value? Use Table in the appendix on future value and present valuetables.

Present Value of $1 to Be Received at the End of a Given Number of Time Periods 1% 3% 4% 5% 6% 8% 10% 12% 0.990 0.980 0.971 0.962 0.952 0.943 0.935 0926 0.917 0.909 0.89 0.980 .96 0.943 0.925 0.907 0.890 0.873 0.857 0.842 0.826 0.79 0.971 0.942 095 0.889 0.864 0.840 0.816 0.794 0.772 0.75 0.712 0.961 0.951 0.906 0.883 0.822 0.784 0.747 0.713 068 0.6500.62 0.56 0.942 0.888 0.837 0.7900.746 0.705 0.666 0.630 0.596 0.564 0.507 0.933 0.871 0.813 0.760 0.711 0.665 0.623 0.583 0.547 0.513 0.452 0.923 0.853 0.78 0.731 0.677 0.627 0.582 0.540 0.502 0.467 0.404 0.914 0.837 0.766 0.703 0.645 0.592 0.544 0.500 0.4600.424 0.36 0.905 0.820 0.744 0.676 0.614 0.558 0.508 0.463 0.422 0.386 0.322 0.896 0.804 0.722 0.650 0.585 0.527 0.475 0.429 0.3880.350 0.28 0.887 0.788 0.70I 0.625 0.557 0.497 0.444 0.397 0.356 0.319 0.25 0.879 0.773 0.68I 0.601 0.530 0.469 0.415 0.368 0.326 0.290 0.229 0.870 0.758 0661 0.861 0.743 0.642 0.555 0.481 0.417 0.362 0.315 0.275 0.239 0.18 0.853 0.728 0.623 0.534 0.458 0.394 0.339 0.292 0.252 0.218 0.163 0.844 0.714 0.605 0.513 0.436 0.37 0.317 0.270 0.231 0.198 0.146 0.836 0.700 0.587 0.494 0.416 0.350 0.296 0250 0.2120.180 0.130 0.828 0.686 0.570 0.475 0.396 0.331 0.277 0.232 0.194 0.164 0.116 0.820 0.673 0.554 0.456 0.377 0.312 0.258 0.215 0.178 0.14 0.104 0.811 0.660 0.538 0.439 0.359 0.294 0.242 0.199 0.164 0.135 0.09 0.803 0.6470.522 0.422 0.342 0.278 0.226 0.184 0.150 0.123 0.083 0.795 0.634 0.507 0.406 0.326 0.262 0.21 0.170 0.138 0.12 0.074 0.788 0.622 0.492 0.390 0.310 0.247 0.197 0.158 0.126 0.102 0.066 0.780 0.610 0,478 0.375 0.295 0.233 0.184 0.146 0.116 0.092 0.059 0.772 0.598 0.464 0.361 0.281 0.220 0.172 0.135 0.106 0.084 0.05 0.764 586 0,450 0.347 0.268 0.207 0.16 0125 0.098 0.076 0.04 0.757 0.574 0.437 0.333 0.255 0.196 0.150 0.116 0.0900,069 0.042 0.749 0.563 0.424 0.321 0.243 0.185 0.14 0.107 0.082 0.063 0.037 0.742 0.552 0.412 0.308 0.231 0.174 0.131 0.099 0.075 0.057 0.033 0.672 0.453 0.307 0.208 0.142 0.097 0.067 0.046 0.032 0.022 0.0I 0.608 0.372 0.228 0.141 0.087 0.054 0.034 0.02 0.013 .0 0.00 0.924 0.888 0.855 0.823 0.792 0.763 0.735 0708 0.683 0.636 7 I 0.577 0.505 0.442 0.388 0.340 0.299 0.263 0.205 18 1