An investment in an oil field will yield no operating profit until the end of 3 years, when the investigator will receive P216,475,601. After that, he will receive P216,475,601 at the end of each year for 13 more years. Find the present value of its income if money is worth 7% effective.

An investment in an oil field will yield no operating profit until the end of 3 years, when the investor will receive P216,475,601. After that, he will receive P216,475,601 at the end of each year for 13 more years. Find the present value of tis income if money is worth 7% effective