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 A B C

1 $14,000 $14,000

2 14,000

3 14,000

4 14,000

5 14,000 $14,000

6 14,000 70,000

7 14,000

8 14,000

9 14,000

10 14,000 14,000

Assuming an annual discount rate of 16 percent, find the present value of each investment.

a. What is the present value of investment A at an annual discount rate of 16 percent?

$ (Round to the nearest cent.)