Assume you own a valuable piece of land (without debt) and are confident you can sell it to a large corporate buyer for about $5,300,000 when the area develops in 5 years. If your required return is 4% annually, what is the approximate land value (to you) today? Ch3

a. $3,932,800 b. $4,866,600 c. $3,452,100 d. $ 4,356,200