Exercise 12A-3 (Algo) Basic Present Value Concepts [LO12-7] In eight years, when he is discharged from the Air Force, Steve wants to buy a $16,000 power boat. Cuck here to view and Exhibit 128-2. to determine the oppropriate discount factor(s) using tables. Required: What lump-sum amount must Steve invest now to have the $16,000 at the end of eight years if he can invest money at: (Round you final answer to the nearest whole dollor amount.) Procur Valee of 51= Proveat Vilae of \$1; (1+x)n1 Annual cash intlows that will arise from two competing investment projects are given below: The discount rate is 8%. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using tables. Required: Compute the present value of the cash inflows for each investment. Answer is complete but not entirely correct