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(Present-value comparison) You are offered $ 20,000 today or $ 340,000 in 10 years. Assuming that you can earn 16 percent on yourmoney, which should

(Present-value comparison)You are offered $20,000 today or $340,000 in 10 years. Assuming that you can earn 16 percent on yourmoney, which should youchoose?

If you are offered $340,000 in 10 years and you can earn 16 percent on yourmoney, what is the present value of 340,000?

___ (Round to the nearestcent.)

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