Exercise 11A-3 Basic Present Value Concepts [L011-5] In four years, when he is discharged from the Air Force, Steve wants to buy an $33,000 power boat. Click here to view Exhibit 11B-1 and Exhibit 11B-2, to determine the appropriate discount factor(s) using tables. Required What lump-sum amount must Steve invest now to have the $33,000 at the end of four years if he can invest money at: (Use the appropriate table to determine the discount factor(s).) Present Value Investment x Discount FactorPresent Value 1. Thirteen percent 2. Eleven percent