Question: Sharon Walsh has developed an educational software package. She agrees to sell the patent to Pensca for five annual payments of $50,000 each. The payments

Sharon Walsh has developed an educational software package. She agrees to sell the patent to Pensca for five annual payments of $50,000 each. The payments are to begin three years from today Given an annual rate of 8%, what is the approximate present value of the five payments? Select one: a. $199,635 b. $184,848 c. $158,477 d. $171,155 e. $369,511

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