Determine the present value of $61,000 to be received in one year, at 6% compounded annually (rounded to nearest dollar). Use the following table, if needed.

Present Value of $1 at Compound Interest

Periods	5%	6%	7%	10%	12%
1	0.95238	0.94340	0.93458	0.90909	0.89286
2	0.90703	0.89000	0.87344	0.82645	0.79719
3	0.86384	0.83962	0.81630	0.75132	0.71178
4	0.82270	0.79209	0.76290	0.68301	0.63552
5	0.78353	0.74726	0.71299	0.62092	0.56743
6	0.74622	0.70496	0.66634	0.56447	0.50663
7	0.71068	0.66506	0.62275	0.51316	0.45235
8	0.67684	0.62741	0.58201	0.46651	0.40388
9	0.64461	0.59190	0.54393	0.42410	0.36061
10	0.61391	0.55840	0.50835	0.38554	0.32197

Select the correct answer.

$57,009

$61,000

$54,464

$57,547