Joseph Has Just Accepted a Job as a Stockbroker

question 134

Multiple Choice

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.What is tThe 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

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