Assuming an interest rate of 6%, the present value of $16,000 received at the end of each year for 7 years would be closest to: Present Value of $1 Periods 5% 6% 8% 10% 4 0.823 0.792 0.735 0.683 106 5 0.784 0.747 0.681 0.621 6 0.746 0.705 0.630 0.564 7 0.711 0.665 0.583 0.513 8 0.677 0.627 0.540 0.467 9 0.645 0.592 0.500 0.424 10 0.614 0.558 0.463 0.386 Present Value of Annuity of $1 Periods 5% 6% 8% 10% 4 3.546 3.465 3.312 3.170 66900 5 4.329 4.212 3.993 3.791 5.076 4.917 4.623 4.355 7 5.786 5.582 5.206 4.868 8 6.463 6.210 5.747 5.335 9 7.108 6.802 6.247 5.759