An investment pays $22,000 every other year forever with the first payment one year from today. a. What is the value today if the discount rate is 15 percent compounded daily? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.) b. What is the value today if the first payment occurs four years from today? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)
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