In eight years, when he is discharged from the Air Force, Steve wants to buy a $16,000 power boat. Click here to view Exhibit 148-1 and Exhibit 148-2. to determine the appropriate discount factor(s) using tables Required: What lump-sum amount must Steve invest now to have the $16,000 at the end of eight years if he can invest money at (Round your final answer to the nearest whole dollar amount.) Answer is complete but not entirely correct. 1. Eleven percent 2. Twelve percent Present Value 6,942 $ $ 16.416