An investment offers $8,900 per year for 14 years, with the first payment occurring one year from now. Assume the required return is 9 percent.

a.What is the value of the investment today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

b. What would the value be if the payments occurred for 39 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

c. What would the value be if the payments occurred for 74 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

d.What would the value be if the payments occurred forever? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)