(Present value of complex cash flows)How much do you have to deposit today so that beginning 11 years from now you can withdraw

$7,000

a year for the next

4

years (periods 11 through

14)

plus an additional amount of

$14,000

in the last year (period

14)?

Assume an interest rate of

6

percent.

The amount of money you have to deposit today is

$enter your response here.

(Round to the nearest cent.)