Question: Given a 7 percent interest rate, compute the present value of payments made in years 1, 2, 3, and 4 of $1,500, $1,700, $1,700, and

Given a 7 percent interest rate, compute the present value of payments made in years 1, 2, 3, and 4 of $1,500, $1,700, $1,700, and $2,000, respectively.

Note: Do not round intermediate calculations and round your final answer to 2 decimal places.

Present Value: ____________

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