Question 17 16 points Save Answer How much would you have to invest today in the bank at an interest rate of 8% to have an annuity of $6,000 per year for 8 years, with nothing left in the bank at the end of the 8 years? Select the amount below that is closest to your answer. Ignore income taxes) Use the selections from the present value tables below. Present Value of $1 Period 44 896 4 0.855 0.681 B 0.731 0.540 16 0.534 0.292 Present Value of an Annuity of 51 Period 4% 8% 4 3.630 3.312 8 6.733 5.747 16 11.652 8.851 All answers are rounded to the nearest dollar. $3.240 8. $1,752 c. 553,106 D $34,482 Question 21 The management at Blue Corporation is considering the following three investment projects (Ignore income taxes) Description Investment required Present value of cash inflows Project X $42,000 $48,300 Project Y $63,500 $71,000 Project 2 $84,200 $95,600 Rank the projects according to the profitability index, from most profitable to least profitable. A Project X, Project Y, Project Z B. Project Y, Project Z, Project X c. Project Z, Project Y, Project X D. Project X, Project Z, Project Y