Question $7(1$ point$)$

You have the opportunity to purchase mineral rights to a property in Wyoming with expected annual cash flows of $$8,000$ per year for ten years. If you discount these cash flows at a rate of $12\%$ per year, what are these cash flows worth today if the cash flows occur at the end of each period?

$$80,000\mathrm{.}00$

$$45,201\mathrm{.}78$

$$49,676\mathrm{.}40$

$$122,996\mathrm{.}93$