Present value calculationWithout 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.)

Opportunity cost, r	Number of periods, n
4%	12

The present value of $1 is

$nothing.

(Round to three decimal places.)