Trying to figure out how is $19,270 is the answer.

A particular investment promises to pay $5,000 per year for 4 years. Given the level of risk you associate with this investment, you require a minimum annual return if 1.5% on your invested capital..The most you would be willing to pay for this investment is $ (note: the present value tables in this chapter round all factors to 3 decimal places. If you are using a nancial calculator to perform these calculations, your results will vary slightly from those calculated using the tables.) The correct am Is: V19,2TO. $5.000 I 3.354 - $19,270