Assume That You Will Receive R2,000 a Year in Years

Multiple Choice

Assume that you will receive R2,000 a year in Years 1 through 5, R3,000 a year in Years 6 through 8, and R4,000 in Year 9, with all cash flows to be received at the end of the year.If you require a 14 percent rate of return, what is the present value of these cash flows?

A) R9,851
B) R13,250
C) R11,714
D) R15,129
E) R17,353