Barkley Company will receive $400,000 in a future year. If the future receipt is discounted at an interest rate of 8%, its present value is $252,068. In how many years is the $400,000 received?
A) 5 years
B) 6 years
C) 7 years
D) 8 years

Question

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The Answer of Barkley Company will receive $400,000 in a future year. If the future receipt is discounted at an interest rate of 8%, its present value is $252,068. In how many years is the $400,000 received?
A) 5 years
B) 6 years
C) 7 years
D) 8 years

Barkley Company Will Receive $400,000 in a Future Year