Use a financial calculator or computer software program to answer the following question: A. What is the present value of 359000 that is to be received at the end of 23 years if the discount rate is 11 percent?
B. How would your answer change in (a) if the $359,000 is to be received at the end of 20 years?

David paid $975,000 for two beachfront lots in coastal south carolina, with the intention of building residential homes on each. two years later, the south carolina legislature passed the beachfront management act, barring any further development of the coast, including david's lots. when david files a complaint to seek compensation for his property, south carolina refuses, pointing to a passage in david's own complaint that states "the beachfront management act [was] properly and validly designed to south carolina's " is south carolina required to compensate david under the takings clause?