John Lang was injured in a car accident. As the result of his injuries Mr. Lang won a legal case that allows him to collect $10,000 cash per year for five years. In order to pay his medical bills, Mr. Lang needs his money now. Assuming an ordinary annuity and a 6% required rate of return, which of the following represents the amount of cash a financing company would be willing to pay today to buy the annuity owed to Mr. Lang? (Use the tables in the Chapter 10 appendix and round your answer to the nearest whole dollar.)

$42,124.

$50,000.

$34,651.

None of the answers is correct.