7. A court is trying to determine the discounted value of the future income of a man injured in a car accident. At the time of the accident, the man was earning $71000 per year and anticipated getting a 4% raise each year. He was 22 years away from retirement. If money is worth ji = 2.5%, what is the discounted value of his future income? (Assume payments are at the end of each year and the first payment is $71 000 x 1.04.) [4]