E$9-14($Algo$)$ Computing a Present Value LO $9-7$

An investment will pay $$21,900$ at the end of the first year, $$31,900$ at the end of the second year, and $$51,900$ at the end of the third year. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$E$9-14($Algo$)$ Computing a Present Value LO $9-7$

An investment will pay $$21,900$ at the end of the first year, $$31,900$ at the end of the second year, and $$51,900$ at the end of the third

year. $(FV$ of $$1,PV$ of $$1,$ FVA of $$1,$ and PVA of $$1)$

Note: Use the appropriate factor$($s$)$ from the tables provided.

Required:

Determine the present value of this investment using a $9$ percent annual interest rate.

Note: Round your intermediate calculations and final answer to nearest whole dollar.