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6 3 points A company has 30 employees who will be eligible for the company's pension plan. In total, the company expects to pay out
6 3 points A company has 30 employees who will be eligible for the company's pension plan. In total, the company expects to pay out annual pension payments of $300,000 at the end of each year for 12 years. The average length of time until the employees retire is 10 years. If the relevant interest rate is 15%, what is the present value of the company's pension liability? Time value of money table excerpts are given below. Use the appropriate factor to 5 decimal places for your computations. Enter only your final numeric answer in Canvas. Format guidance: Enter whole number only. Example: 817 or 13468 This question is eligible for consideration of partial credit. - You have the option of uploading a picture of your written detailed work to support your answer in order to be eligible for any partial credit available on this question. Submit your photo(s) for all eligible questions using the LAST homework question. Be sure to appropriately label each homework question by question number. - You are not eligible for full or partial credit on the question if you do not type your final answer in the Canvas box below. TABLE 6.2 Present Value of 1 (Present Value of a Single Sum)
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