Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sharon Walsh has developed an educational software package.She agrees to sell the patent to Pensca for four annual payments of $50,000 each.The payments are to

Sharon Walsh has developed an educational software package.She agrees to sell the patent to Pensca for four annual payments of $50,000 each.The payments are to begin five years from today.Given an annual rate of 5%, what is the approximate present value of the four payments?

Select one:

a.$145,863

b.$138,917

c.$281,420

d.$275,046

e.$289,319

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial and Managerial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

3rd edition

978-1-119-3916, 1119392132, 1119392136, 9781119391609, 1119391601, 978-1119392132

More Books

Students also viewed these Accounting questions

Question

Personal role: This consists of service to family and friends.

Answered: 1 week ago

Question

The role of life: It consists of your own service to yourself.

Answered: 1 week ago