Suppose the term structure of risk-free interest rates is as shown below: 10 yr 20 yr 7 yr 3 yr 5 yr 1 yr 4.12 4.93 Term 2 yr 2.39 3.77 2.72 3.33 1.99 Rate (EAR %) What is the present value of an investment that pays $110 at the end of each of years 1, 2, and 3? If you wanted to value this investment correctly using the annuity formula, what discount rate should you use? What is the present value of an investment that pays $110 at the end of each of years 1, 2, and 3? (Round to the nearest cent.) The present value of the investment is $