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Assume an individual makes a lump sum investment at the beginning of year one of $29,258, the present value of which is $29,258. The investors
Assume an individual makes a lump sum investment at the beginning of year one of $29,258, the present value of which is $29,258. The investors discount rate, for an alternative safe investment, is 6.09 percent after tax. The expected return on this investment (received at each year-end) is as follows. Year 1: 18,055 Year 2: 1,622 Year 3: 1,077 Year 4: 17,938 What is the net present value of the investment under consideration? Round the answer to two decimal places.
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