Question: Problem 5-36 Calculating Present Value of Annuities (LO 1] Peter Lynchpin wants to sell you an investment contract that pays equal $13,800 amounts at the

Problem 5-36 Calculating Present Value of Annuities (LO 1] Peter Lynchpin wants to sell you an investment contract that pays equal $13,800 amounts at the end of each of the next 16 years. If you require an effective annual return of 7 percent on this investment, how much will you pay for the contract today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Value today

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