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What is the approximate present value of the four payments

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Question - Sharon Walsh has developed an educational software package. She agrees to sell the patent to Pensca for four annual payments of $50,000 each. The payments are to begin five years from today. Given an annual rate of 5%, what is the approximate present value of the four payments?

a. $145,863

b. $138,917

c. $281,420

d. $275,046

e. $289,319

Reference no: EM132616238

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