What is the present value of the cash? flows

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The state? lottery's million-dollar payout provides for ?$1.3 million to be paid in 25 installments of ?$52,000 per payment. The first ?$52,000 payment is made? immediately, and the 24 remaining ?$52,000 payments occur at the end of each of the next 24 years. If 16 percent is the discount? rate, what is the present value of the cash? flows?

If 8 percent is the discount? rate, the present value of the annuity due is ?$_____ ?(Round to the nearest? cent.)

 

Reference no: EM132596262

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