Question: Steve Smith will receive $102,400 on 5 years from now, from a trust fund established by his father. Assuming the appropriate interest rate for discounting

Steve Smith will receive $102,400 on 5 years from now, from a trust fund established by his father. Assuming the appropriate interest rate for discounting is 12% (compounded semiannually), what is the present value of this amount today? (Round factor values to 5 decimal places, e.g. 1.25124. Round answers to the nearest whole dollar, e.g. 5,275.)

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