Present value calculation Without referring to the preprogrammed function on your financial calculator, use the basic formula for present value, along with the given discount rate, $r,$ and the number of periods, $n,$ to calculate the present value of $$1$ in the case shown in the following table. $($Click on the icon here in order to copy the contents of the data table below into a spreadsheet.$)$

$\backslash$table$[[$Opportunity cost$,r,$ Number of periods, $n,],[16\%,17]]$

The present value of $$1$ is $($Round to three decimal places.$)$