Problem 5-18 Calculating Present Values [LO 4] An investment will pay you $86,000 in three years. Assume the appropriate discount rate is 7.5 percent compounded daily.

Required: What is the present value? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Use 365 days in a year. Round your answer to 2 decimal places (e.g., 32.16).)

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