You will receive $1,200
at the end of the next 15 years, assuming a 8% discount rate, what is the
present value of the cash flows?

FV=$1200 n=15
r=8%

FV=PV(1-r)^n

1200=PV(1-8/100)^15

1200=PV(0.92)^15

1200=PV(0.286297404)

PV=1200/0.286297404=4191.45153

PV=$4191.45153