Joseph has just accepted a job as a stockbroker. He estimates his gross pay each year for the next three years is $35,000 in year 1, $21,000 in year 2, and $32,000 in year 3. The present value of these cash flows, if they are discounted at 4%, is closest to
A) $79,452.30
B) $80,294.50
C) $81,517.10
D) $88,000

Question

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The Answer of Joseph has just accepted a job as a stockbroker. He estimates his gross pay each year for the next three years is $35,000 in year 1, $21,000 in year 2, and $32,000 in year 3. The present value of these cash flows, if they are discounted at 4%, is closest to
A) $79,452.30
B) $80,294.50
C) $81,517.10
D) $88,000

Joseph Has Just Accepted a Job as a Stockbroker