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You are a financial consultant. A potential client offers to pay you a retainer of $ 2 0 , 0 0 0 today, and to

You are a financial consultant. A potential client offers to pay you a retainer of $20,000 today, and to engage you for a project which will pay you annual cash inflows of $8,000, $9,000, and $10,000 at the end of each of the next three years, respectively. What is the present value of this business proposition, given a 5% discount rate?
A. $22,907
B. $28,719
(C.) $32,573
D. $44,420
E. $52,195
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