12. You are a consultant. A prospective client offers to sign a $100,000 contract for your services, with payment as follows: Immediate down payment $10,000 Payable at the end of year one 30,000 Payable at the end of year two 30,000 Payable at the end of year three 30,000 At a discount rate of 12%, what is the present value of your prospective clients proposal?