You purchased an Investment that will pay you $8,000, In real dollars, a year for the next three years. Each payment will be recelved at the end of the perlod with the first payment occurring one year from today. The nominal discount rate Is 8.46 percent and the Inflation rate iS 3.1 percent. What Is the present value of these payments In real dollars? Multiple Choice $20,720 $21,705 $20.447 $18,811 $18,529