Using the following table, what is the present value of $40,000 to be received in five years, if the market rate is 7% compounded annually? 
Definitions:
Vicarious Learning
A process of learning that occurs by observing the behaviors of others, their consequences, and deciding whether to imitate that behavior.
Neutral Stimulus
An environmental or external factor that initially produces no specific response other than focusing attention before conditioning.
Classical Conditioning
A training process involving the correlation between a stimulus from the environment and one that occurs inherently.
Conditioned Response
A learned response to a previously neutral stimulus that has been repeatedly paired with an unconditioned stimulus.
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