MC Qu. 87 A company must repay the bank...

A company must repay the bank a single payment of $35,000 cash in 3 years for a loan it entered into. The loan is at 6% interest compounded annually. The present value factor for 3 years at 6% is .8396. The present value of an annuity factor for 3 years at 6% is 2.6730. The present value of the loan (rounded) is:

Multiple Choice:

$29,386.

$35,000.

$49,345.

$13,094.

$93,555.