A firm purchased an investment that will pay

$8,000

next year: Every year thereafter, the payment will increase by 4 percent. What is the value of this investment if the required rate of return is 9 percent?\ Multiple Choice\

$174,400

\

$88,889

\

$160,000

\

$120,000

\

$177.600

A firm purchased an investment that will pay $8,000 next year: Every year thereafter, the payment will increase by 4 percent. What is the value of this investment if the required rate of return is 9 percent? Multiple Choice $174,400 $88,889 $160,000 $120,000 $177.600