Compute the present value of a $260 cash flow for the following combinations of discount rates and times: (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Compute the present value of a $260 cash flow for the following combinations of discount rates and times: (Do not round intermediate calculations. Round your answers to 2 decimal places.)

	Present Value
a. r = 10%, t = 9 years	$ 110.27
b. r = 10%, t = 18 years	46.76
c. r = 5%, t = 9 years	167.60
d. r = 5%, t = 18 years	108.04

Explanation:

a. $260/(1.10)9 = $110.27

b. $260/(1.10)18 = $46.76

c. $260/(1.05)9 = $167.60

d. $260/(1.05)18 = $108.04