Imprudential, Inc., has an unfunded pension liability of $577 million that must

Question

Imprudential, Inc., has an unfunded pension liability of $577 million that must be paid in 15 years. To assess the value of the firm’s stock, financial analysts want to discount this liability back to the present.

If the relevant discount rate is 7 percent, what is the present value of this liability? (Enter your answer in dollars not in millions. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Can someone help please?

I got one answer at 209.13 and it came back wrong. Help please

Explanation / Answer

present value of this liability=577000000/1.07^15= 209131353.33

YOU ANSWER WAS WRONG AS YOU PUT IN MILLIONS, PLEASE USE ABOVE

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