A company needs an increase in working capital of $70,000 in a project that will last three years.The company's tax rate is 30%,and its discount rate is 8%.What is the approximate present value of the working capital to be released at the end of the project?
A) $21,000.
B) $38,898.
C) $49,000.
D) $55,580.
Correct Answer:
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