K. Shiryayeva will receive $32,000 per year for the next 20 years (assume she receives the first payment one year from today) for her work as a short-order fry cook. What is the today's value of these cash flows if the appropriate discount rate is 8 percent? The value is less than $300,000 The value is greater than or equal to $300,000 but less than $305,000 The value is greater than or equal to $305.000 but less than $310,000 The value is greater than or equal to $310,000 but less than $315,000 The value is greater than or equal to $315.000