Assume an individual makes a lump sum investment at the beginning of year one of...
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Assume an individual makes a lump sum investment at the beginning of year one of $23,950, the present value of which is $23,950. The investors discount rate, for an alternative safe investment, is 7.66 percent after tax. The expected return on this investment (received at each year-end) is as follows. Year 1: 15,379 Year 2: 18,999 Year 3: 9,870 Year 4: 16,238 What is the net present value of the investment under consideration? Round the answer to two decimal places.
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