The present value of $60,000 to be received in one year, at 6% compounded annually, is _____ (rounded to nearest dollar) . Use the following table, if needed. 
Definitions:
Weber Fraction
A constant proportion in Weber's Law that describes the smallest change in a stimulus that can be detected as a proportional part of the original stimulus.
Psychological Magnitude
The quantifiable aspect of a psychological factor, such as the intensity of a sensation, emotion, or perception.
Standard Stimulus
A stimulus used as a benchmark in experiments to measure how different stimuli can influence behavior or perception compared to this control stimulus.
Constant
A value or quantity that remains unchanged within a given context or under specified conditions.
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