Suppose that you will receive $5,000 in year 1, $5,000 in year 2, $5,000 in year 3 and $7,000 in year 5. And somehow you know that the present value for the whole cash stream is $23,071.30. At a 7% discount rate, the cash flow received in year 4 will be .

Select one:

a. $7,000

b. $7,200

c. $6,500

d. $6,800