Pearson Limited acquires the net assets of Hardman Limited for a cash consideration of $80 000. One half is to be paid on acquisition date and the other half is payable in one years time. The appropriate discount rate is 8% p.a. The present value of the cash outflow in one years time is:

		$40 000.
		$37 037.
		$36 364.
		$43 201.