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

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?

Select one:

a.$145,863

b.$138,917

c.$281,420

d.$275,046

e.$289,319

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