quesetion 11 - Wally, president ofWally's Burgers, is considering franchising. He has a potential franchise agreement that would allow him to receive 18 end-of-year payments starting one year from now. The first two payments would be $27,000 and $23,000 in one and two yearsrespectively, and then $18,000 per year after that for 16 years. If Wally requires a return of 10.7%, what is the present value of this stream of cashflows?