47. The Form W-2 must be given to employees before January 31 following the year covered by the Form W-2.

true or false

49. A company must repay the bank a single payment of $20,000 cash in 3 years for a loan it entered into. The loan is at 8% interest compounded annually. The present value of 1 (single sum) at 8% for 3 years is 0.7938. The present value of an annuity (series of payments) at 8% for 3 years is 2.5771. The present value of the loan (rounded) is:

• $7,761.

• $15,876.

• $25,195.

• $20,000.

• $51,542.