Investa AB has a WACC of 14% and a tax rate of 30%. The company is evaluating an investment of $ 400,000. The investment is estimated to give rise to an increased annual FCF (free cash flow) of $ 80,000. In addition, it is estimated that a buyer will pay the residual value of 20,000 after five years. The company writes off according to the 20 rule. Investa AB is considering changing the calculation term to only 4 years. To what amount should you include FCF for year 4 in your new calculation? Assume an unchanged market value in the event of an earlier sale of the assets. Choose an alternative:

94 000

104 000

80 000

118 000