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An original investment of $250,000 provides an ordinary annuity of $100,000 to be received at...

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Question

Accounting

An original investment of $250,000 provides an ordinary annuity of $100,000 to be received at the end of each of the next 3 years. Assuming annual discounting at 2% per year, the net present value is _____.

A)

less than $37,000

B)

more than $37,000 but less than $38,000

C)

more than $38,000 but less than $39,000

D)

more than $39,000 but less than $40,000

E)

more than $40,000

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