On January 1, 2024, you are considering making an investment that will pay three annual payments of $10,000. The first payment is not expected until December 31, 2027. You are eager to earn 3%. What is the present value of the investment on January 1, 2024?

Multiple Choice

$28,286

$26,662

$27,300

$25,886

Present and future values of $1 at 3% are presented below: On January 1, 2024, you are considering making an Investm Multiple Choice $28,286 $26,662 $27,300 $25,886