Deferred Freehold Estate

When the rate of interest is 4 per cent., find what sum must be paid now to receive a freehold estate of £400 a year 10 years hence; having given $\log 104=2.0170333$, $\log 675565=5.8296670$.

H. S. Hall & S. R. Knight, Higher Algebra (1891) · Ch. XVIII. Interest and Annuities, Examples XVIII.b, No. 8