(Present value of annuities and complex cash flows) You are given three investment alternatives to analyze. The cash flows from these three investments are as follows: End of Year 1 2 3 4 5 6 7 8 A $13,000 13,000 13,000 13,000 13,000 Investment Alternatives B $13,000 13,000 13,000 13.000 $13,000 65,000 a. What is the present value of investment A at an annual discount rate of 18 percent? (Round to the nearest cent)

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