An investment promises a series of constant annual $4,000 payments for the next 9 years, with the first payment occurring one year from today. In the year after that, the annual payment is cut in half and continues at the new constant level each year forever. Using a discount rate of 7%, what is today's cash equivalent value for the investment? Enter year answer as a positive number and round to the nearest dollar. Type your answer...

An investment promises a series of constant annual $4,000 payments for the next 9 years, with the first payment occurring one year from todar. In the year after that, the annual payment is cut in half and continues at the new constant level each year forever. Using a discount rate of 7%, what is today's cash equivalent value for the investment? Enter year answer as a positive number and round to the nearest dollar. Type your