Question: Problem 6-47 Present Value and Multiple Cash Flows [LO1] What is the value today of $3,000 per year, at a discount rate of 8 percent,

Problem 6-47 Present Value and Multiple Cash Flows [LO1]

What is the value today of $3,000 per year, at a discount rate of 8 percent, if the first payment is received 7 years from today and the last payment is received 25 years from today? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)

Value today

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