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Sonata Corporation will receive $40,000 today (January 1, 2012), and also on each January 1st for the next five years (2013 - 2017). What is

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Sonata Corporation will receive $40,000 today (January 1, 2012), and also on each January 1st for the next five years (2013 - 2017). What is the present value of the six $40,000 receipts, assuming a 12% interest rate? $164, 456. $184, 191. $324, 608. $363, 560

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