Liam Is Considering Putting Money in an Investment Plan That

Multiple Choice

Liam is considering putting money in an investment plan that will pay him $52,000 in 12 years. If Liam's opportunity cost rate is 7 percent compounded annually, what is the maximum amount he should be willing to pay for the investment today? Use a financial calculator to determine the amount.

A) $23,089
B) $25,526
C) $26,888
D) $28,685
E) $30,534