Find the present value of the given future amount. Assume 360 days in a year. \[ 135,304 \text { for } 334 \text { days at } 5.5 \% \text { simple interest. } \] What is the present value? \( \$ \square \) (Round to the nearest dollar as needed.)

To find the present value (PV) using the formula for simple interest, we can rearrange the formula \( A = PV(1 + rt) \) to solve for PV: \[ PV = \frac{A}{1 + rt} \] Where: - \( A = 135,304 \) - \( r = 5.5\% = 0.055 \) - \( t = \frac{334}{360} \) (since we use 360 days in a year) First, we calculate \( rt \): \[ rt = 0.055 \times \frac{334}{360} \approx 0.051 (rounded to three decimal places) \] Now plug this into the PV formula: \[ PV = \frac{135,304}{1 + 0.051} \approx \frac{135,304}{1.051} \approx 128,800.91 \] Finally, rounding to the nearest dollar, the present value is: \( \$ 128,801 \)