A company must repay the bank a single payment of $39,000 cash in 5 years for a loan it entered into. The loan is at 10% interest compounded annually. The present value factor for 5 years at 10% is .6209. The present value of an annuity factor for 5 years at 10% is 3.7908. The present value of the loan (rounded) is:

Multiple Choice

• $24,215.

• $39,000.

• $30,070.

• $10,288.

• $147,841.