What is the present value of a $$350$ payment in one year when the discount rate is $10$ percent?

You must use the built$-$in Excel function to answer this question. All answers should be displayed as positive numbers.

Input area:

Output area:

Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work.

Nothing in this area will be graded, but it will be submitted with your assignment.