Bridget Jones has a contract in which she will receive the following payments for the next five years: $14,000, $15,000, $16,000, $17,000, and $18,000. She will then receive an annuity of $20,000 a year from the end of the 6th through the end of the 15th year. The appropriate discount rate is 9 percent. a. What is the present value of all future payments? Use Appendix B and Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Present value __________________$