Question: ( Present-value comparison ) You are offered $ 1,100 today, $5,000 in 8 years, or $26,000 in 29 years. Assuming that you can earn 12

(Present-value comparison) You are offered $

1,100 today, $5,000 in 8 years, or $26,000 in 29 years. Assuming that you can earn 12 percent on your money, which offer should you choose?

a. What is the present value of $26,000 in 29 years discounted at 12 percent interest rate?

$ enter your response here

(Round to the nearest cent.)

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