The present value of $40,000 to be received in two years, at 12% compounded annually, is (rounded to nearest dollar). Use the following table, if needed. Present Value of $1 at Compound Interest Periods 5% 6% 7% 10% 12% 0.95238 0.90703 0.86384 0.82270 0.78353 0.94340 0.89000 0.83962 0.79209 0.74726 0.93458 0.87344 0.81630 0.76290 0.71299 0.66634 0.62275 0.58201 0.54393 0.50835 0.909090.89286 0.82645 0.79719 0.75132 0.71178 0.68301 0.63552 0.62092 0.56743 0.56447 0.50663 0.51316 0.45235 0.46651 0.40388 0.42410 0.36061 0.38554 0.32197 0.74622 0.71068 8 0.67684 0.64461 0.61391 0.66506 0.62741 0.59190 0.55840 10 a. $40,000 Ob. $48,112 c. $31,888 d. $8,112