What Is the Present Value (PV) of the Following Series $\begin{array}{lc}\text { Year } & \$ \\\hline 1 & 500 \\2 & 300 \\3 & 0 \\4 & 400 \\5 & 400\end{array}$

Multiple Choice

What is the Present Value (PV) of the following series of cash flows using an 8% discount rate? $\begin{array}{lc}\text { Year } & \$ \\\hline 1 & 500 \\2 & 300 \\3 & 0 \\4 & 400 \\5 & 400\end{array}$

A) Less than $1200
B) $1201 - $1250
C) $1251 - $1300
D) $1301 - $1350
E) More than $1350