Determine the present value of $70,000 to be received in one year, at 6% Present Value of $1 at Compound Interest Periods .5% compounded annually (rounded to nearest dollar). Use the following table. needed 796 0.95238 0.913400.93458 0.90909 0.89286 0.90703 08900 0.87344 0.82645 0.79719 0.863840.839620.81630 0.75132 0.71178 0.82270 0.79209 0.76290 0.68301 0.63552 0.783530.74726 0.71299 0.62092 0.56743 0.74622 070496 0.66634 0.56447 0.50663 0.71068 0.66506 0.62275 0.51316 0.45235 0.67684 0.62741 0.58201 0.466510.40388 0.644610.59190054393 0.42410 0.36061 12% 6% 10% 10 0.61391 0.558400.50835 0.38554 0.32197 Select the correct answer $65,421 $66,038 $62,500 $70,000