Multiple Choice
-Stranton Company is considering investing in an annuity contract that will return $40,000 annually at the end of each year for 12 years. Stranton has obtained the following values related to the time value of money to help in its planning process and compounded interest decisions. 
To the closest dollar, what amount should Stranton Company pay for this investment if it earns a 9% return?
A) $497,066
B) $592,507
C) $805,629
D) $286,429
Correct Answer:
Verified
Correct Answer:
Verified
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