Use Table $12-2$ to calculate the present value $($in $$)$ of the annuity due. $($Round your answer to the nearest cent.$)$

Annuity

Payment Payment

Frequency Time

Period $($years$)$ Nominal

Rate $(\%)$ Interest

Compounded Present Value

of the Annuity $($in $$)$

$$1,600$ every year $1011$ annually $