Del Monty will receive the following payments at the end of the next three years: $15,000, $18,000, and $20,000. Then from the end of the 4th year through the end of the 10th year, he will receive an annuity of $21,000 per year.

At a discount rate of 16 percent, what is the present value of all three future benefits?  (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Present value of all future benefits = $

Answer rating: 100% (QA)

To find the present value of all future benefits we need to calculate the present value of each ... View the full answer