23.A small machine shop will invest $20,000 now and have costs that start at t = 1 equal to $,2000

increasing by $5,000 per year until the end of year 4.The firm's interest rate is 12.75%/year. At the

end of year 5 revenues will start at $X increasing by 7.65% per year (end of year) up and through

year 8.What must the approximate value of X be for this investment to earn exactly 12.75% per

year? [14]

a. $25,515b. $22,775c. $46,171d. $22,515e. $25,703