You are considering the purchase of an investment that

would pay your $5,000 per year for Years 15,

$3,000 per year for Years 68,

and $2,000 per year for Years 9 and

10.

If you require a 14 percent rate of return, and the cash

flows occur at the end of each year, then what is the

most that you would be willing to pay for this investment?

$15,819.27

$21,937.26

$32,415.85

$38,000.00

$52,815.71