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Renfro Corporation Will Receive $20,000 Today (January 1, 2006), and Also

Question 36

Multiple Choice

Renfro Corporation will receive $20,000 today (January 1, 2006) , and also on each January 1st for the next five years (2007 - 2011) .What is the present value of the six $20,000 receipts, assuming a 12% interest rate.?


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

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