An annuity will pay $194,000 annual cash flows in each of 9 years, but the first cash flow doesn't occur until 3 years from now. If the discount rate is 9%, what is the present value of this annuity today? Enter your answer as a positive number and round to the nearest dollar.

Answer rating: 100% (QA)

To calculate the present value of the annuity we need to use the formula for the present value of an ... View the full answer