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In four years, when he is discharged from the Air Force, Steve wants to buy a $33,000 power boat. Click here to view Exhibit 12B-1

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In four years, when he is discharged from the Air Force, Steve wants to buy a $33,000 power boat. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using tables. Required: What lump-sum amount must Steve invest now to have the $33,000 at the end of four years if he can invest money at: (Round your final answer to the nearest whole dollar amount.) EXHIBIT 12n-1 Present Valee of $1:60+r21 EXHIBIT 128=2 Present Value of an Annuity of $1 in Arrears; lin(1(1/(1+1)n))

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