20) What is the present value of $12,200 to be received 4 years from today if the discount rate is 5 percent?

A) $10,036.97

B) $7,320.00

C) $10,538.82

D) $10,027.51

E) $10,459.53

20) What is the present value of S12,200 to be received 4 years from today if the discount rate is 5 percent? A) $10,036,97 B) $7,320.00 C) $10.538.82 D) $10,027.51 E) $10.459.53