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(Related to Checkpoint 5.4) (Present-value comparison) You are offered $120,000 today or $340,000 in 13...

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(Related to Checkpoint 5.4) (Present-value comparison) You are offered $120,000 today or $340,000 in 13 years. Assuming that you can earn 16 percent on your money, which should you choose? If you are offered $340,000 in 13 years and you can earn 16 percent on your money, what is the present value of $340,000? $ (Round to the nearest cent.)

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