QUESTION 33 Suppose you have a winning lottery ticket and you are given the option of accepting $3,000,000 three years from now or taking the present value of the $3,000,000 now. The sponsor of the prize uses a 6% discount rate. If you elect to receive the present value of the prize now, the amount you will receive is O A. $2,518,860 O B. $3,000,000 O C. $8,019,030 O D. $2,460,000 QUESTION 34 Compound interest is computed quarterly on $600 in a bank savings account for 7 years at 12% annual interest. To find the value of the savings account at the end of 7 years, the factor from the future value table would be found at O A. 7 periods at 3%. O B. 28 periods at 3%. O C. 7 periods at 12%. O D. 28 periods at 12%. Maui Candy Company borrowed $400,000 to purchase a new building. Maui Candy signed a promissory note to repay the loan in 10 equal installments due at the end of each year, starting one year from now. If the loan has a 5% interest rate, what is the amount of each payment? O A. $51,802 O B. $245,564 O C. $42,000 O D. $31,802 QUESTION 36 Snowbird Company was granted a patent on January 1, 2019, which had cost $68,000 and has a legal life of 17 years. However, due to expected technological changes, the expected useful life of the patent is only 8 years. What is the amount of the patent's amortization expense for the year 2019? O A. $68,000 O B. $1,700 O C. $4,000 O D. $8,500