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 year's time. The appropriate discount rate is 8% p.a. The present value of the cash outflow in one year's time is:

1.$36 364.

2.$37 037.

3.$40 000.

4.$43 201.