Question: Given a 8 percent interest rate, compute the present value of payments made at the end of years 1, 2, 3, and 4 of $2,906,

Given a 8 percent interest rate, compute the present value of payments made at the end of years 1, 2, 3, and 4 of $2,906, $1,854, $1,050, and $2,317, respectively. (Do not round intermediate calculations and round your final answer to the nearest dollar.)

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