Exercise 13A-3 Basic Present Value Concepts [LO13-7] In six years, when he is discharged from the Air Force, Steve wants to buy a $28,000 power boat. Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables. Required: What lump-sum amount must Steve invest now to have the $28,000 at the end of six years if he can invest money at: (Round your final answer to the nearest whole dollar amount.) Present Value 1. Nine percent 2. Eleven percent