What is the value today of receiving five annual payments of $500,000, beginning one year from now, assuming an 11% discount rate? (Use appropriate factor(s) from Table 1, FV of $1; Table 2, PV of $1; Table 3, FVA of $1; and Table 4, PVA of $1 contained within a separate file.)
A. $2,115,270.
B. $1,847,950.
C. $2,500,000.
D. $2,225,000.
Answer: B
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