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Problem 5-33 Delayed Annuities (L03) Suppose that you will receive annual payments of $15,000 for a period of 10 years. The first payment will be

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Problem 5-33 Delayed Annuities (L03) Suppose that you will receive annual payments of $15,000 for a period of 10 years. The first payment will be made 9 years from now. If the interest rate is 6%, what is the present value of this stream of payments? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value 87

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