You have deposited $7,620 in a special account that has a guaranteed rate of return of 19% per year. If you are willing to completely exhaust the account, what is the maximum amount that you could withdraw at the end of each of the next 7 years? Select the amount below that is closest to your answer. (Ignore income taxes.)Refer to Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided.
A. $1,089
B. $2,219
C. $1,295
D. $2,056
Answer: D
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