The present value of these series of cash flows

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Reference no: EM13889532

You receive $2,800 at the end of each year for 25 years starting at the end of year 1 and ending at the end of year 25 EXCEPT for years 11, 12 and 13. For years 11, 12 and 13, you will make payments (not receive payments) of $1,000 at the end of those years. The Present Value of these series of cash flows is closest to what value below? Use i = 9% annual rate, compounded annually.

$21,340

$22,560

$23,440

$24,510

$25,660

$26,220

Reference no: EM13889532

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