PV of Multiple Cash Flows: Ferris Ltd Has Borrowed from Their

PV of multiple cash flows: Ferris Ltd has borrowed from their bank at a rate of 8 per cent and will repay the loan with interest over the next five years. Their scheduled payments, starting at the end of the year are as follows-$450,000, $560,000, $750,000, $875,000, and $1,000,000. What is the present value of these payments? (Round to the nearest dollar.)

A) $2,735,200
B) $2,615,432
C) $2431,224
D) $2,815,885