Using the following partial table of present value of $1 at compound interest, determine the present value of $20,000 to be received four years hence, with earnings at the rate of 10% a year: 
Definitions:
Price Elastic
Describes how sensitive the demand for a good is to changes in its price; a high elasticity means demand is greatly affected by price changes.
Principal-Agent Problem
A dilemma in economics and organizational theory where one party (the agent) is expected to act in the best interest of another (the principal) but may have personal interests that conflict.
Corporate Managers
Individuals at high levels within a corporation who are responsible for making strategic decisions and ensuring the company's objectives are met.
Corporate Owners
Individuals or entities that legally possess shares of stock in a corporation, granting them ownership stakes in the company.
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