You are going to receive $98,000 in three years from an investment you made. The appropriate annual interest rate is 8%. Assume daily compounding.

a. What is the present value? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 12.34. Use 365 days in a year.)

b. What formula did you use to solve this problem a? (Write the number next to the formula you would use from your formula sheet)

c. What is the number of periods you used in your calculation to solve a? (Write the number of periods used in your calculations, enter as a number with no decimal places, e.g. 1,234.)