David Stephens has made an investment that will pay him $11,455, $16,376, and $19,812 at the end of the next three years. His investment was to fetch him a return of 14 percent. What is the present value of these cash flows? (Round to the nearest dollar.)
A) $37,712
B) $36,022
C) $41,675
D) $39,208
Correct Answer:
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