The rate of earnings is 12% and the cash to be received in 2 years is $65,460. Determine the present value amount, using the following partial table of present value of $1 at compound interest: (round to two decimal points).

Year	6%	10%	12%
1	0.943	0.909	0.893
2	0.890	0.826	0.797
3	0.840	0.751	0.712
4	0.792	0.683	0.636

a.$58,455.78

b.$52,171.62

c.$54,069.96

d.$46,607.52