The present value of an ordinary annuity of $350 each year for five years, assuming an opportunity cost of 4 percent, is

We can calculate it by PVOA table.
PVOA means present value of an ordinary annuity.
PMT = $350
PMT means recurring payment.
time = 5 years and interest rate is 4%
So n = 5 and i = 4%
So we can calculate PVOA as

PVOA = PMT times (PVOA factor for n = 5 and i = 4%)
             (PVOA factor PVOA table)
            
So present value is $1558.2