Assume That You Will Receive $2,000 a Year in Years

Multiple Choice

Assume that you will receive $2,000 a year in Years 1 through 5,$3,000 a year in Years 6 through 8,and $4,000 in Year 9,with all cash flows to be received at the end of the year.If you require a 14 percent rate of return,what is the present value of these cash flows? (Round to the nearest whole dollar)

A) $9,851
B) $13,250
C) $11,714
D) $15,129
E) $17,353