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10. You have received a settlement offer from an automobile manufacturer due to mechanical problems with your automobile. The manufacturer will pay you $47,000 in one lump sum five years from now. You can earn 5% on your investments. The present value of $1 for 5 periods at 5% is 0.784 The present value of an ordinary annuity of $1 for 5 periods at 5% is 4.329. The present value of the manufacturer's settlement offer is closest to A. $203,463 OB. $47,000 OC. $34,545 OD. $36,848 4

You have received a settlement offer from an automobile manufacturer due to mechanical problems with your automobile. The manufacturer will pay you $47,000 in one lump sum five years from now. You can earn 5% on your investments. The present value of $1 for 5 periods at 5% is 0.784 . The present value of an ordinary annuity of $1 for 5 periods at 5% is 4.329 . The present value of the manufacturer's settlement offer is closest to: A. $203,463 B. $47,000 C. $34,545 D. $36,848