Drew receives an inheritance that pays him $54,000 every three months for the next two years. Which of the following is closest to the present value (PV) of this inheritance if the interest rate is 8.9% (EAR)?
A) $314,366
B) $471,549
C) $392,957
D) $432,000
Answer: C
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The first step for an auditor who concludes an illegal act exists is to:
A. Bring the matter to the attention of the SEC B. Assess the impact of the illegal act on the financial statements C. Bring the matter to the attention of the audit committee D. Assess the impact of the illegal act on the auditor's opinion
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A number of financial instruments that are used in domestic financial management have been modified for use in international financial management
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