Budvar-brewery company expects to receive the following cash inflows: $35 000 three years from now, $50 000 five years from now and $80 000 eight years from now. If the interest rate over the whole period is 8% per annum, compounded quarterly, the total present value of these cash flows (to the nearest dollar) is:

$152 777

$86 433

$105 035

$103 696

$99 998