Collins Limited estimated the future cash outflows over the next three years relating to settlement of warranty obligations would be as follows: 1 year from now: $20 000 , 2 years from now: $38 000, 3 years from now: $45 000 Collins Limited calculates that the present value of the total expected future cash outflow, using a discount rate of 8%, is:

a. $103 000

b. $ 88 301

c. $ 95 370

d. $ 86 820

the correct answer is D but can someone explains the steps please !!!