Mike Carlson Will Receive $10,000 a Year from the End

Multiple Choice

Mike Carlson will receive $10,000 a year from the end of the third year to the end of the 12^th year (10 payments) .The discount rate is 10%.The present value today of this deferred annuity is:

A) $61,446
B) $55,860
C) $46,165
D) $50,782