Kirk Van Houten, who has been married for 18 years, would sko to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $15,743 in 12 years. Kitk currently has $4,500 to invest What annual rate of return must Kirk eam on his investment to accumulate enough money to pay for the ring? Click the table icon to view the PVIF table The annual rate of return Kirk must eam on his investment is % (Round to the nearest integer) 1 2 3 4 5 6 7 7% 0.935 0.873 0.816 0.763 0.713 0.666 0.623 0.582 0.544 0.508 0.475 0.444 0.415 8% 0.926 0.857 0.794 0.735 0.681 0.630 0.583 0.540 0.500 0.463 0.429 0.397 0.368 9% 0.917 0.842 0.772 0.708 0.650 0.596 0.547 0.502 0.460 0.422 0.388 0.356 0.326 Present Value of $1 (PVIF) 10% 11% 12% 0.909 0.901 0.893 0.826 0.812 0.797 0.751 0.731 0.712 0.683 0.659 0.6361 0.621 0.593 0.567 0.564 0.535 0.507 0.513 0.482 0 452 0.467 0.434 0.404 0.424 0.391 0.361 0.386 0.352 0.322 0.350 0.317 0.287 0.319 0.286 0.257 0.290 0.258 0.229 13% 0.885 0.783 0.693 0.613 0.543 0.480 0.425 0.376 0.333 0.295 0.261 0.231 0.204 14% 0.877 0.769 0.675 0.592 0.519 0.456 0.400 0.351 0:308 0.270 0.237 0.208 0.182 15% 0.870 0.756 0.658 0.572 0.497 0.432 0.376 0.327 0.284 0.247 0.215 0.187 0.163 16% 0.862 0.743 0.641 0.552 0.476 0.410 0.354 0.305 0.263 0.227 0.195 0.168 0.145 14 5 16 | 18 19 20 21 22 23 24 25 30 10 50 10.388 0.362 0339 0317 1296 0277 1258 0242 0226 0211 0.197 1184 013 006 0.034 0.340 0315 0292 0270 1250 0232 0215 0199 6184 0170 0.158 0.146 0.099 10.046 0021 0299 0275 0.252 0.231 0212 0 194 0 173 0.164 0.150 0.138 0126 0 16 0.075 0.032 0.013 0.263 0239 0218 0 196 0 180 0 164 0 1449 135 0 123 0 117 10 102 0.092 0 057 0.022 0009 0232 0209 0.188 0.70 053 139 024 012 0 101 0001 0.082 0.07A 0.044 0015 0.005 0205 0193 0 163 0 146 0 130 0 116 0 104 0.093 4.083 1074 066 0.059 0.033 0.01] 0.003 018|| 0160 014f 0.125 0111 0098 0.087 0.077 4068 1260 0.053 0.047 6.026 0.008 0.002 6 160 0.140 0123 108 0.095 0.082 0.073 0.064 0056 0049 0.043 0038 0820 0005 0001 041 0.123 0.107 0.093 0.081 0.00 0.06 0.053 0.046 1040 003E C030 0015 0.00 0 001 0.25 1.16 0.093 0.080 0.059 0.060 051 0.044 0.038 0.033 0.028 0.024 0.012 0.003 0001