You will receive a series of $1,208 payments, annually, beginning exactly 7 years from today, for a total of 10 payments. The relevant interest rate (your opportunity cost) is 8% (as an EAR). The present value today (year 0) of this series of payments is $_ Margin of error for correct responses: +/-.05 Rounding and Formatting instructions: Do not enter dollar signs, percent signs, commas, X, or any words in your response. Do not round any intermediate work, but round your "final" response to 2 decimal places (example: if your answer is 12.3456, 12.3456%, or $12.3456, you should enter 12.35). 16,585.8