Sam has successfully found a part-time job with Ottawa Magazine. The job agreement is such that Sam will get payments for the next 3 years with an annual growth rate of 2%. The first payment will take place at the end of first year and is $25,000. If the markets discount rate is 3% what is this job worth to Sam today?

Select one:

a. $75,000

b. $2,500,000

c. $72,110.87

d. $228,897.00

e. $214,884.60