5. Mary will receive $12,000 annually for the next 10 years as royalty for her work on a finance book. What is the present value of her royalty income if the opportunity cost is 12 percent? A) $120,000 B) $67,800 C) $ 38,640 D) $ 72,560

5. Mary will receive \\( \\$ 12,000 \\) annually for the next 10 years as royalty for her work on a finance book. What is the present value of her royalty income if the opportunity cost is 12 percent? A) \\( \\$ 120,000 \\) B) \\( \\$ 67,800 \\) C) \\( \\$ 38,640 \\) D) \\( \\$ 72,560 \\)