Pinkerton Mathews Inc., has just received a payment that is long overdue from a customer who was considered bankrupt. The payment is $25,000. The customer promised to pay another $25,000 next year and three more equal payments each occurring with a one year gap from the previous payment. The company's management wanted to find out the value of all five payments today if the interest rate were 12%? (Points : 3)

About 90,000 dollars

About 60000 dollars

A little over $100,000 dollars

less than $40,000