5) Assume your required internal rate of return is 11%. What is the maximum you are willing to pay for a property that is expected to produce the following net cash flows at end of each year?

Year Cash flow

1 $30,000

2 $30,000

3 $50,000

Select one:

a. 23,051.50

b. 95,045.15

c. 87,935.27

d. 90,234.45