Solve the problem.It is estimated that the total value of a stamp collection is given by the formula 
where t is the number of years from now. If the inflation rate is running continuously at 4% per year so that the (discounted) present value of an item that will be worth $v in t years' time is given by 
Sketch the graph of the discounted value as a function of time at which the stamp collection is sold. The graph has an absolute maximum at (0, 41,200), and a local maximum at one other point. What is the value of t at the local maximum? What is the discounted
value of the collection at that time?
A. 
; at which time the discounted value is 
.
B. 
; at which time the discounted value is 
.
C. 
; at which time the discounted value is 
.
D. 
; at which time the discounted value is 
.
Answer: C
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