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Dustin is considering an investment that will pay $ 7 , 0 0 0 a year for 1 0 years, starting 1 year from today.

Dustin is considering an investment that will pay $7,000 a year for 10 years, starting
1 year from today. How much should Dustin pay for this investment today if he wishes to earn a 5.6 percent rate of return? (Hint: The price he should pay is the present value of the investments annual payments.)
a. $52,511
b. $53,127
c. $54,492
d. $55,638

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