Problem 5.4 Calculating Annuity Present Values [ [LO 1] An investment offers $8,600 per year for 17 years, with the first payment occurring one year from now. Assume the required return is 9 percent. a. What is the value of the investment today? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. b. What would the value be if the payments occurred for 42 years? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. c. What would the value be if the payments occurred for 77 years? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16 . d. What would the value be if the payments occurred forever? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.9., 32.16