Wildhorse Telecommunications Corp. has made an investment in another company that will guarantee it a cash flow of $23,000 each year for the next five years. If the company uses a discount rate of 16 percent on its investments, what is the present value of this investment?

NEXT Problem 6.08 (Excel Video) Wildhorse Telecommunications Corp. has made an investment in another company that will guarantee it a cash flow of $23,000 each year for the next five years. If the company uses a discount rate of 16 percent on its investments, what is the present value of this investment? (Round factor values to 4 decimal places, e.g. 1.2514 and final answer to 2 decimal places, e.g. 15.25.) Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you've been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.) Present value of investment Click if you would like to Show Work for this question: Dren. Show.Work LINK TO TEXT VIDEO: SIMILAR PROBLEM EXCEL SOLUTION