Question: Given a 5 percent interest rate, compute the present value of payments made in years 1, 2, 3, and 4 of $1,400, $1,600, $1,600, and

Given a 5 percent interest rate, compute the present value of payments made in years 1, 2, 3, and 4 of $1,400, $1,600, $1,600, and $1,900. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Present value

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