Tracy Purchased a 15-Year Franchise for a Computer Outlet Store

Multiple Choice

Tracy purchased a 15-year franchise for a computer outlet store that is expected to generate income at the rate of dollars/year.If the prevailing interest rate is 10% / year compounded continuously, find the present value of the franchise.(Hint: Use the formula of the present value .) Please round the answer to the nearest cent.

A) $620,883.01
B) $709,580.59
C) $745,059.62
D) $931,324.52
E) $558,794.71