Wendy Brooks prepares her own income tax return each year. A tax preparer would charge her $185 for this service. Over a period of 8 years, how much does Wendy gain from preparing her own tax return? Assume she can earn 2 percent on her savings. Use Exhibit 1-B. (Round discount factor to 3 decimal places and final answer to 2 decimal places.)

Future value = _________?

Exhibit 1-B is the screenshot figure below:

Transcribed Image Text:

0 Period 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 25 40 50 Period 1 2 3 4 5 6 7 8 9 10 11 12 13 14 O Search the web https://ezto-cf-media.mheducatio X + 62F Sunny A 1% 1.000 2.010 3.030 4.060 5.101 6.152 7.214 8.286 9.369 10.462 11.567 12.683 13.809 14.947 16.097 17.258 18.430 19.615 20.811 22.019 28.243 34.785 48.886 64.463 12% 1.000 2.120 3.374 4.779 6.353 8.115 10.089 12.300 14.776 17.549 20.655 24.133 28.029 32.393 https://ezto-cf-media.mheducation.com/Media/Connect_Production/bne/finance/kapoor_7e/exhibit_1_b.htm 2% 1.000 2.020 3.060 4.122 5.204 6.308 7.434 8.583 9.755 10.950 12.169 13.412 14.680 15.974 17.293 18.639 20.012 21.412 22.841 24.297 32.030 40.588 60.402 84.579 13% 3% 1.000 2.030 3.091 4.184 5.309 6.468 7.662 8.892 10.159 11.464 12.808 14.192 15.618 17.086 18.599 20.157 21.762 23.414 25.117 26.870 36.459 47.575 75.401 112.800 1.000 2.130 3.407 4.850 6.480 8.323 10.405 12.757 15.416 18.420 21.814 25.650 29.985 34.883 14% 4% 1.000 2.040 3.122 4.246 5.416 6.633 7.898 9.214 10.583 12.006 13.486 15.026 16.627 18.292 20.024 21.825 23.698 25.645 27.671 29.778 41.646 56.085 95.026 152.670 1.000 2.140 3.440 4.921 6.610 8.536 10.730 13.233 16.085 19.337 23.045 27.271 32.089 37.581 + 5% 1.000 2.050 3.153 4.310 5.526 6.802 8.142 9.549 11.027 12.578 14.207 15.917 17.713 19.599 21.579 23.657 25.840 28.132 30.539 33.066 47.727 66.439 120.800 209.350 15% 1.000 2.150 3.473 4.993 6.742 8.754 11.067 13.727 16.786 20.304 24.349 29.002 34.352 40.505 6% 1.000 2.060 3.184 4.375 5.637 6.975 8.394 9.897 11.491 13.181 14.972 16.870 18.882 21.015 23.276 25.673 28.213 30.906 33.760 36.786 54.865 79.058 154.760 290.340 16% 1.000 2.160 3.506 5.066 6.877 8.977 11.414 14.240 17.519 21.321 25.733 30.850 36.786 43.672 7% 1.000 2.070 3.215 4.440 5.751 7.153 8.654 10.260 11.978 13.816 15.784 17.888 20.141 22.550 25.129 27.888 30.840 33.999 37.379 40.995 63.249 94.461 199.640 406.530 17% 1.000 2.170 3.539 5.141 7.014 9.207 11.772 14.773 18.285 22.393 27.200 32.824 39.404 47.103 Q Search 8% 1.000 2.080 3.246 4.506 5.867 7.336 8.923 10.637 12.488 14.487 16.645 18.977 21.495 24.215 27.152 30.324 33.750 37.450 41.446 45.762 73.106 113.280 259.060 573.770 18% 36.974 41.301 46.018 51.160 84.701 136.310 337.890 815.080 1.000 2.180 3.572 5.215 7.154 9.442 12.142 15.327 9% 1.000 2.090 3.278 4.573 5.985 7.523 9.200 11.028 13.021 15.193 17.560 20.141 22.953 26.019 29.361 33.003 19.086 23.521 28.755 34.931 42.219 50.818 19% 10% 1.000 2.100 3.310 4.641 6.105 7.716 9.487 11.436 13.579 15.937 18.531 21.384 24.523 27.975 31.772 35.950 40.545 45.599 51.159 57.275 98.347 164.490 442.590 1,163.900 1.000 2.190 3.606 5.291 7.297 9.683 12.523 15.902 19.923 24.701 30.404 37.180 45.244 54.841 H 20% 11% 1.000 2.200 1.000 2.110 3.342 4.710 6.228 7.913 9.783 34.405 39.190 44.501 50.396 56.939 64.203 114.410 199.020 581.830 1,668.800 3.640 5.368 7.442 9.930 12.916 16.499 20.799 25.959 32.150 39.581 48.497 59.196 11.859 14.164 16.722 19.561 22.713 26.212 30.095 25% 1.000 2.250 3.813 5.766 8.207 11.259 15.073 19.842 25.802 33.253 42.566 54.208 68.760 86.949 0 30% 1.000 2.300 3.990 6.187 9.043 12.756 17.583 23.858 32.015 42.619 56.405 74.327 97.625 127.910 A {9 D {} {" ... 3:48 PM 3/3/2023 0 Period 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 25 40 50 Period 1 2 3 4 5 6 7 8 9 10 11 12 13 14 O Search the web https://ezto-cf-media.mheducatio X + 62F Sunny A 1% 1.000 2.010 3.030 4.060 5.101 6.152 7.214 8.286 9.369 10.462 11.567 12.683 13.809 14.947 16.097 17.258 18.430 19.615 20.811 22.019 28.243 34.785 48.886 64.463 12% 1.000 2.120 3.374 4.779 6.353 8.115 10.089 12.300 14.776 17.549 20.655 24.133 28.029 32.393 https://ezto-cf-media.mheducation.com/Media/Connect_Production/bne/finance/kapoor_7e/exhibit_1_b.htm 2% 1.000 2.020 3.060 4.122 5.204 6.308 7.434 8.583 9.755 10.950 12.169 13.412 14.680 15.974 17.293 18.639 20.012 21.412 22.841 24.297 32.030 40.588 60.402 84.579 13% 3% 1.000 2.030 3.091 4.184 5.309 6.468 7.662 8.892 10.159 11.464 12.808 14.192 15.618 17.086 18.599 20.157 21.762 23.414 25.117 26.870 36.459 47.575 75.401 112.800 1.000 2.130 3.407 4.850 6.480 8.323 10.405 12.757 15.416 18.420 21.814 25.650 29.985 34.883 14% 4% 1.000 2.040 3.122 4.246 5.416 6.633 7.898 9.214 10.583 12.006 13.486 15.026 16.627 18.292 20.024 21.825 23.698 25.645 27.671 29.778 41.646 56.085 95.026 152.670 1.000 2.140 3.440 4.921 6.610 8.536 10.730 13.233 16.085 19.337 23.045 27.271 32.089 37.581 + 5% 1.000 2.050 3.153 4.310 5.526 6.802 8.142 9.549 11.027 12.578 14.207 15.917 17.713 19.599 21.579 23.657 25.840 28.132 30.539 33.066 47.727 66.439 120.800 209.350 15% 1.000 2.150 3.473 4.993 6.742 8.754 11.067 13.727 16.786 20.304 24.349 29.002 34.352 40.505 6% 1.000 2.060 3.184 4.375 5.637 6.975 8.394 9.897 11.491 13.181 14.972 16.870 18.882 21.015 23.276 25.673 28.213 30.906 33.760 36.786 54.865 79.058 154.760 290.340 16% 1.000 2.160 3.506 5.066 6.877 8.977 11.414 14.240 17.519 21.321 25.733 30.850 36.786 43.672 7% 1.000 2.070 3.215 4.440 5.751 7.153 8.654 10.260 11.978 13.816 15.784 17.888 20.141 22.550 25.129 27.888 30.840 33.999 37.379 40.995 63.249 94.461 199.640 406.530 17% 1.000 2.170 3.539 5.141 7.014 9.207 11.772 14.773 18.285 22.393 27.200 32.824 39.404 47.103 Q Search 8% 1.000 2.080 3.246 4.506 5.867 7.336 8.923 10.637 12.488 14.487 16.645 18.977 21.495 24.215 27.152 30.324 33.750 37.450 41.446 45.762 73.106 113.280 259.060 573.770 18% 36.974 41.301 46.018 51.160 84.701 136.310 337.890 815.080 1.000 2.180 3.572 5.215 7.154 9.442 12.142 15.327 9% 1.000 2.090 3.278 4.573 5.985 7.523 9.200 11.028 13.021 15.193 17.560 20.141 22.953 26.019 29.361 33.003 19.086 23.521 28.755 34.931 42.219 50.818 19% 10% 1.000 2.100 3.310 4.641 6.105 7.716 9.487 11.436 13.579 15.937 18.531 21.384 24.523 27.975 31.772 35.950 40.545 45.599 51.159 57.275 98.347 164.490 442.590 1,163.900 1.000 2.190 3.606 5.291 7.297 9.683 12.523 15.902 19.923 24.701 30.404 37.180 45.244 54.841 H 20% 11% 1.000 2.200 1.000 2.110 3.342 4.710 6.228 7.913 9.783 34.405 39.190 44.501 50.396 56.939 64.203 114.410 199.020 581.830 1,668.800 3.640 5.368 7.442 9.930 12.916 16.499 20.799 25.959 32.150 39.581 48.497 59.196 11.859 14.164 16.722 19.561 22.713 26.212 30.095 25% 1.000 2.250 3.813 5.766 8.207 11.259 15.073 19.842 25.802 33.253 42.566 54.208 68.760 86.949 0 30% 1.000 2.300 3.990 6.187 9.043 12.756 17.583 23.858 32.015 42.619 56.405 74.327 97.625 127.910 A {9 D {} {" ... 3:48 PM 3/3/2023