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Please do the steps with a financial calculator or the formulas please. 6 years from now you will receive the first of 8 annual $7231

Please do the steps with a financial calculator or the formulas please. image text in transcribed

6 years from now you will receive the first of 8 annual $7231 payments. The current interest rate is 4% EAR, but by the beginning of year 6, the rate will rise to 14% EAR. What is the present value of this cash flow stream? (Note: retain at least four places of a decimal in your calculation) Select one: a. $26510.01 0 b. $20546.24 O c. $40819.74 d. $27570.41 e. $51650.00

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