Question: Exercise 14A-3 (Algo) Basic Present Value Concepts [LO14-7] In two years, when he is discharged from the Air Force, Steve wants to buy a $31,000

Exercise 14A-3 (Algo) Basic Present Value Concepts [LO14-7] In two years, when he is discharged from the Air Force, Steve wants to buy a $31,000 power boat. Click here to view Exhibit 148-1 and Exhibit 148-2, to determine the appropriate discount factor(s) using tables. Required: What lump-sum amount must Steve invest now to have $31,000 at the end of two years if he can invest money at: Note: Round your final onswer to the nearest whole dollar amount

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