Ajax Corporation has hired Brad O'Brien as it;s new president. Terms included the company's agreeing to pay retirement benefits of $17,000 st the end of each semiannual period for 12 years. This will begin in 4,015 days. If the money can be invested at 8% compounded semiannually. What must the company deposit today to fulfill it's obligation to Brad?

Ajax Corporation has hired Brad O'Brien as its new president. Terms included the company's agreeing to pay retirement benefits of $17,000 at the end of each semiannual period for 12 years. This will begin in 4,015 days. If the money can be invested at 8% compounded semiannually, what must the company deposit today to fuifill its obligation to Brad? (Use Iable and Table 123. ) Note: Use 365 doys a year. Do not round intermediate calculations. Round your answer to the nearest cent. Present value interest factor of an (erdinary) annuity of st per period at ithe for n periods, PVIFN(i,n). Prowant walus of C1 at and of neriod