Paul Company is considering purchasing a capital investment that is expected to provide annual cash inflows of $12,000 per year for 3 years. Assuming that the required rate of return is 10%, what is the present value of these cash inflows? (PV of $1 and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round PV factors and intermediate calculations. Round your final answer to the nearest dollar.)
A. $9,016
B. $27,047
C. $29,842
D. $28,822
Answer: C
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