Suppose the current price of gold is $600 per ounce and the price of gold is expected to increase at a rate of 5 percent per year for the foreseeable future. What is the current value of 0.2 million ounces of gold to be produced each year for the next five years (the discount rate is 8 percent per year)? Multiple Choice O $600.00 million $521.64 million $690.86 million $3,000.00 million

Suppose the current price of gold is $600 per ounce and the price of gold is expected to increase at a rate of 5 percent per year for the foreseeable future. What is the current value of 0.2 million ounces of gold to be produced each year for the next five years (the discount rate is 8 percent per year? Multiple Choice $600.00 milion $52164 million $690.86 milition $3,00000 milion