Use the Following Table $\text { Present Value of an Annuity of } 1$

question 55

Multiple Choice

Use the following table, $\text { Present Value of an Annuity of } 1$
$\begin{array}{rrrr}\text { Period }&8\%&9\%&10\%\\1 & .926 & .917 & .909 \\2 & 1.783 & 1.759 & 1.736 \\3 & 2.577 & 2.531 & 2.487\end{array}$ A company has a minimum required rate of return of 9%.It is considering investing in a project which costs $350,000 and is expected to generate cash inflows of $140,000 at the end of each year for three years.The net present value of this project is

• A)$354,340.
• B)$70,000.
• C)$35,436.
• D)$4,340.

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