Assume an investment promises to yield $4,400 after the first year, $4,840 after the second year, and $3,993 after the third year.If the market interest rate is i = 10% and is not expected to change over the next three years, what is the present discounted value of this investment?
A) $13,200
B) $12,900
C) $12,030
D) $11,200
E) $11,000
Correct Answer:
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