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Ronen Consulting has just realized an accounting error that has resulted in an unfunded liability...

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Question

Finance

Ronen Consulting has just realized an accounting error that has resulted in an unfunded liability of

$380 comma 000

due in

28

years. In other words, they will need

$380 comma 000

in

28

years. Toni Flanders, the company's CEO, is scrambling to discount the liability to the present to assist in valuing the firm's stock. If the appropriate discount rate is

6

percent, what is the present value of the liability?

If the appropriate discount rate is

6

percent, the present value of the

$380 comma 000

liability due in

28

years is

$nothing

.

(Round to the nearest cent.)

Answer & Explanation Solved by verified expert
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