Question: Exercise 12A-3 (Algo) Basic Present Value Concepts [LO12-7] In four years, when he is discharged from the Air Force, Steve wants to buy a $12,000

Exercise 12A-3 (Algo) Basic Present Value Concepts [LO12-7] In four years, when he is discharged from the Air Force, Steve wants to buy a $12,000 power boat. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using tables. Required: What lump-sum amount must Steve invest now to have the $12,000 at the end of four years if he can invest money at (Round your final answer to the nearest whole dollar amount.)

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