Why is re=(1+0.06/1)^1/1, not re=(1+0.06/1)^4/1?

Beginning of Year Cash Flow $20,000 $20,000 $20,000 $20,000 Ir the interest rate is 6% p.a. (compound annually the present value today or flows is closest to: ompound annually the present value today of this series of cash 20,000 a) $56,668 b) $69,302. $73,460. d) $80,000. For each question pick the most reasonable response based on the information provided. BI. An investor expects to receive the following cash flows over the next four years where the cash flows are received at the beginning of each year