Check my work Problem 1-9 Calculating the Present Value of a Series (LO1-4) Pete Morton is planning to go to graduate school in a program of study that will take three years. Pete wants to have $15,000 available each year for various school and living expenses. If he earns 4 percent on his money, how much must be deposited at the start of his studies to be able to withdraw $15,000 a year for three years? Use Exhibit 1-D. (Round time value factor to 3 decimal places and final answer to the nearest whole number.) Amount to be deposited