10. What is the maximum dollar amount that you would be willing to pay for an investment that pays $10,000 every second year forever if the 1st payment occurs four years from today (the 2nd payment will occur in six years etc...) and the interest rate is 4% compounded quarterly? Please round your answer to the nearest dollar.

1. A)$111,455 *
2. B)$109,364
3. C)$105,819
4. D)$86,653