If Nicolai Earns an 8 Percent After-Tax Rate of Return

Multiple Choice

If Nicolai earns an 8 percent after-tax rate of return, $20,000 today would be worth how much to Nicolai in five years? Use future value of $1. (Round discount factor(s) to four decimal places.)

A) $20,000
B) $13,620
C) $18,520
D) $21,600
E) None of the choices are correct.