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Ambrin Corp. expects to receive $2,000 per year for 10 years starting one year from now, and $3,500 per year for the next 10 years

Ambrin Corp. expects to receive $2,000 per year for 10 years starting one year from now, and $3,500 per year for the next 10 years at the end of each year. What is the approximate present value of this 20-year cash flow? Use an 11% discount rate.

a) 19,034

b) 27,870

c) 32,389

d) none of these

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