Gorman Corporation Makes an Investment Today (January 1, 2006)

Multiple Choice

Gorman Corporation makes an investment today (January 1, 2006) .They will receive $20,000 every December 31st for the next six years (2006 - 2011) .If Gorman wants to earn 12% on the investment, what is the most they should invest on January 1, 2006?

A) $82,228.
B) $92,096.
C) $162,304.
D) $181,780.