You have the opportunity to invest in a real estate venture that is projected to generate $1,000.00 per month for five years. You require a rate of return of 12% per year to satisfy your risk / reward standards. What is the maximum (rounded to the nearest thousand) you would be willing to invest on this opportunity?

a. $60,000

b. $48,000

c. $45,000

d. $82,000

e. $51,000