1. **State the problem:** We need to find the present value of R13 000 received at the beginning of each year for 8 years, with an interest rate of 10% compounded annually. 2. **Identify the type of annuity:** Since payments are at the beginning of each year, this is an annuity due. 3. **Formula for present value of an annuity due:** $$\text{PV} = R \times \frac{1 - (1 + i)^{-n}}{i} \times (1 + i)$$ where $R = 13000$, $i = 0.10$, and $n = 8$. 4. **Calculate the present value factor:** $$\frac{1 - (1 + 0.10)^{-8}}{0.10} = \frac{1 - (1.10)^{-8}}{0.10}$$ Calculate $(1.10)^{-8}$: $$ (1.10)^8 = 2.1436 \Rightarrow (1.10)^{-8} = \frac{1}{2.1436} = 0.4665 $$ So, $$ \frac{1 - 0.4665}{0.10} = \frac{0.5335}{0.10} = 5.335 $$ 5. **Adjust for annuity due:** $$ 5.335 \times (1 + 0.10) = 5.335 \times 1.10 = 5.869 $$ 6. **Calculate present value:** $$ \text{PV} = 13000 \times 5.869 = 76397 $$ **Final answer:** The present value is approximately $76397$.