Brief Exercise C-12 (Algo) Calculate the present value of an annuity (LOC-5) Tatsuo has just been awarded a four-year scholarship to attend the university of his choice. The scholarship will pay $14,000 each year for the next four years to reimburse normal school-related expenditures. Each $14,000 payment will be made at the end of the year, contingent on Tatsuo maintaining good grades in his classes for that year. Assuming an annual interest rate of 9.0%, determine the value today of receiving this scholarship if Tatsuo maintains good grades. (EV of $1. PV of $1. EVA of $1. and PVA of $1) (Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places.) Present value of annuity

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