If you were awarded a scholarship for the next 4 years and the scholarship will pay $8,000 each year for the next four years to reimburse normal...

If you were awarded a scholarship for the next 4 years and the scholarship will pay $8,000 each year for the next four years to reimburse normal school-related expenditures. Each $8,000 payment will be made at the end of the year, Assuming an annual interest rate of 6%, determine the value today of receiving this scholarship if good grades were maintained. Present value of annuity is what?