Term in years:	1	2	3	4	5
Rate:	1.8%	2.25%	2.30%	2.66%	3.13%

The table above shows the interest rates available from investing in risk-free U.S. Treasury securities with different investment terms. What is the present value (PV) of cash flows from an investment that yields

$10,000

at the end of each year for the next four years?

A.

$37,732

B.

$30,185

C.

$45,278

D.

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