Assume that today is the end of 2019 and you are considering investing $8,000 starting at the end of 2020 in an investment account. This investment amount will then grow at an annual rate of 5%. You plan on ending your contribution to the investment account at the end of 2027. If the annual return on the investment account is expected to be 8% p.a., the present value of this investment is closest to:

Group of answer choices

$99,593.

$47,725.

$81,793.

$53,807.