Use the following table to answer the question 1. MC 11.58 2. MC 11.65.ALGO Periods 5% 6% 7% 10% 1 0.95238 0.94340 0.93458 0.90909 2 0.90703 0.89000 0.87344 0.82645 3. EX 11.160 ALGO 0.86384 0.83962 0.81630 0.75132 4. MC.26.111 ALGO 4 0.82270 0.79209 0.76290 0.65301 0.78353 0.74726 0.71299 0.62092 5. MC.26.113 ALGO 0.74622 6 MC.11.115 ALGO 7 0.71064 0.70496 0.66506 0.66634 0.56447 0.67684 0.62275 0.62741 0.582011 0.46651 0.51316 7. EX.11.13 ALGO 0.64461 10 0.61391 0.59190 0.54393 0.55840 0.50835 0.42410 0.38554 What is the present value of a $34,000 to be received six years, if the market rate is 5% compounded annually? Round your answer to two decimal places