An investment will pay %600 at theend of each of the next 4 years, $500 at the end of Year 5, and $600 at the end of Year 6. What is its present value if other investments of equal risk earn 8 percent annually?
a. $1,159.41
b. $2,705. 67
c. $2,205.59
d. $3,240. 74
e. $1,071.29