18. Suppose an investor is offered the following stream of cash flows: S5,200 per year for seven years beginning exactly one year from today and an unknown amount to be received e eight years from today. If the investor is willing to pay no more than $38,225.31, then the cash flow in year 8 is S -. Assume a discount rate of 4.00% pa xactly a. 8,800 b. 9,000 c. 9,200 d. 9,400 e. 9,600