Walt, president of Walt's Sodas, is thinking about franchising his business. In his franchise agreement, he would receive eight end$-$of$-$year payments starting one year from now. The first payment would be $$25,000$ and the second $$24,000.$ He would then receive $$16,000$ per year for the remaining six years. If Walt's required rate of return is $9\mathrm{.}1\%,$ what is the present value of this stream of cash flows?

$P{A}_2=CPt=-71,561$

$Fy=0$

$Pht=16,000$

$h=6ys$

$i=9,1\%$

$P=-60\mathrm{.}121,27,N=2$

$FV=-71,561\mathrm{.}21(Aniiby),I=9\mathrm{.}1$