Morgan Smith will receive $91,200 5 years from now, from a trust fund established by his father. Assuming the appropriate interest rate for discounting is 12% (compounded semiannually), what is the present value of this amount today? (Round factor values to 5 decimal places, e.g. 1.25124. Round answer to the nearest whole dollar, e.g. 5,275.)

Morgan Smith will receive $91,2005 years from now, from a trust fund established by his father. Assuming the appropriate interest rate for discounting is 12% (compounded semiannually), what is the present value of this amount today? (Round factor values to 5 decimal places, eg. 1.25124. Round answer to the nearest whole dollar, eg. 5,275.) Click here to view factor tables