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In five years, when he is discharged from the Air Force, Steve wants to buy an $34,000 power boat. Click here to view Exhibit 118-1

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In five years, when he is discharged from the Air Force, Steve wants to buy an $34,000 power boat. Click here to view Exhibit 118-1 and Exhibit 11B-2, to determine the appropriate discount factor(s) using tables. Required: invest money at: (Use the appropriate table to determine the discount factor(s).) m amount must Steve invest now to have the $34,000 at the end of five years if he can Present Value InvestmentDiscount FactorPresent Value 1. Six percent 2. Twelve percent

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