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Imprudential, Inc., has an unfunded pension liability of $450 million that must be paid in 20 years. To assess the value of the firm's

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Imprudential, Inc., has an unfunded pension liability of $450 million that must be paid in 20 years. To assess the value of the firm's stock, financial analysts want to discount this liability back to the present. If the relevant discount rate is 5.2 percent, what is the present value of this liability? Input area: Future value Number of years Interest rate $450,000,000 20 5.20% D (Use cells A6 to B8 from the given information to complete this question. Your answer should be a positive value.) 2 Output area: B 4 Present value 6 56 5

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