Anna has a business opportunity that costs $40,000 at time 0. It returns $20,000 and time 1 and $35,000 at time 2. All these figures are in nominal terms. Anna's nominal discount rate is 6%, and the inflation rate is 3%. What is the nominal NPV of the business opportunity at time 0? Choose the nearest answer. a. 10,000 b. 8000 c. 12,000 d. 15,000