Real Estate Principles 3rd Edition by David Ling,Wayne Archer

Exercise 15

What is the present value of the following series of cash flows discounted at 12 percent: $40,000 now, $50,000 at the end of the first year; $0 at the end of the second year; $60,000 at the end of the third year; and $70,000 at the end of the fourth year
A) $165,857.
B) $167,534.
C) $168,555.
D) $171,836.