An investment offers $3,588 per year for 23 years, with the first payment occurring Z years from now. If the required return is 14 percent, what is the value of the investment? (HINT: Remember that when you calculate the PV of the annuity, the claculator gives you the present value of the annuity 1 period before the annuity starts. So if the annuity starts in year 7 , that calculator will to give you the persent value of annuity in year 6 . Now you have to bring this number to period 0 by inputting: N=6 (1 period before the annuity starts, in your case it would be a different number depending when your annuity starts) R=14FV= Present value of annuity you found in step 1. And you solve for PV)