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In seven years, when he is discharged from the Air Force, Steve wants to buy an $27,000 power boat. Click here to view Exhibit 13B-1

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In seven years, when he is discharged from the Air Force, Steve wants to buy an $27,000 power boat. Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables. Required What lump-sum amount must Steve invest now to have the $27,000 at the end of seven years if he can invest money at: (Round your final answer to the nearest whole dollar amount.) Present Value 1. Five percent 2. Ten percent

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