9. California, Inc. is considering a project that will produce cash inflows of $10,000 in year one, $20,000 in year two, and $30,000 in year three. What is the present value of these cash inflows if the company assigns the project a discount rate of 5 percent?

a. $53.579.53

b. $55,849.69

c. $57,211.19

d. $59,321.42

(10,000 / 1.05) + (20,000 / 1.05^2) + (30,000 / 1.05^3)