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Mary will receive $12,000 per year for the next ten years as royaty for her work on a finance book. What is the present value

Mary will receive $12,000 per year for the next ten years as royaty for her work on a finance book. What is the present value of her rpyalty income if the opportunity cost is 12 percent?

Select one:

a. $120,000

b. $67,800

c. $38,640

d. $85,985

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