Instructions: Use the present value and future value tables included in Appendix 8 and on the textbook companion website. The present value of $1 discounted for 10 years at 8 percent compounded annually is 0.4632. The present value of an annuity of $1 discounted for 10 years at 8 percent compounded annually is 6.7101. Given this information, the present value of $80 to be received in 10 years at 8 percent compounded annually is
A) $11.92
B) $37.06
C) $172.71
D) $536.81