Suppose the after$-$tax terminal value is $$40,000.$ Calculate the present value of the after$-$tax terminal value if the investment life is $3$ years, the risk free discount rate is $10\%,$ the risk premium is $1\mathrm{.}5\%$ and the tax rate is $20\%.$

$$40,000$

$$33,021\mathrm{.}78$

$$32,306\mathrm{.}78$

$$30,717\mathrm{.}94$