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Suppose that for valuing an annuity for gift tax purposes, the IRS decided that it currently requires a discount rate of APR = 12%, compounded
Suppose that for valuing an annuity for gift tax purposes, the IRS decided that it currently requires a discount rate of APR = 12%, compounded quarterly. What is the value today of an annuity with 30 quarterly payments of $500,000 if the first payment begins 6 months from today? Please round your final answer to the nearest dollar. "None of the other answers are correct" would not be the right choice if your answers only differs by a few dollars.
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