You have an investment that will provide $1,000 at the end of each of the next 24 months and $1,500 at the end of each of the following 24 months (periods 25 through 48). If your opportunity cost of funds is 10%, how much would you pay for this investment (what is the present value)? 

a) $48,307 

b) $21,671 

c) $54,177 

d) $10,353 

e) $32,506

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