Barkley Company Will Receive $100,000 in a Future Year

Multiple Choice

Barkley Company will receive $100,000 in a future year.If the future receipt is discounted at an interest rate of 8%, its present value is $63,017.In how many years is the $100,000 received?
As per page 6-17 we have updated.

A) 5 years
B) 6 years
C) 7 years
D) 8 years