Consider an inheritance that pays the beneficiary an annuity of $500 that begins immediately (an annuity due) and then annually in year 1 through year 19 (for a total of 20 years) with one exception - the payment in year 14, and only 14, is not $500 but $0. Using an interest rate of 5%, determine the present value of this cash flow stream. $ INSTRUCTIONS: Place your answer in dollars and cents without using a dollar sign or a comma. For example, if your answer is one hundred thousand five hundred and seventy then place your answer as 100570. Work all analysis using at least four decimal places of accuracy.

only 14 , is not $500 but $0. Using an interest rate of 5%, determine the present value of this cash flow stream. analysis using at least four decimal places of accuracy