Elvis Hankins expected to receive $1000 at the end of three years. What is the present value of this amount assuming a 6% annual compound interest rate?

Present Value Interest Factors Period 2% 4% 6% 8% 10% 12% 15% 20% 1 .9804 .9615 9434 .9259 .9091 .8929 8696 .8333 2 9612 .9246 8900 8573 8264 7972 7561 6944 3 .9423 .8890 .8396 .7938 .7513 .7118 6575 5787 4 9238 8548 7921 7350 6830 6355 5718 4823 5 .9057 .8319 .7473 6806 .6209 5674 4972 A019 6 8880 7903 7050 6302 5645 5066 4323 3349 7 8706 7599 6651 5835 5132 4523 3759 2791 8 8535 7307 6274 5403 4665 4039 3269 2326 9 8363 7026 5919 5002 4241 3606 2843 1938 10 8203 6756 5584 4632 3855 3220 2472 .1615 11 .8043 .6496 5268 A289 .3505 2875 2149 1346 12 7885 6246 4970 3971 3186 2567 .1869 .1122 13 .7730 6006 4688 3677 2897 2292 .1625 0935 14 .7579 5775 4423 3405 2633 2046 1413 0779 15 7430 5553 A173 3152 2394 .1827 1229 0649 16 7284 5339 3936 2919 2176 .1631 1069 0541 17 7142 5134 3714 2703 1978 .1456 0929 0451 18 7002 4936 3503 2502 1799 .1300 088 0376 19 .6864 .4746 .3305 .2317 .1635 .1161 .0703 .0313 20 6730 4564 3118 2145 1486 0037 0611 0261 2 Select one: a. $840 O b. $890 c. $943 d. $735