Multiple Choice
What is the present value of the following cash-flow stream if the interest rate is 6\% per year? \[\begin{align*}\text{Year 1:} & \quad \$1,000 \\\text{Year 2:} & \quad \$1,000 \\\text{Year 3:} & \quad \$1,000 \end{align*}\](A) $2,673.01(B) $2,833.39(C) $2,545.95(D) $3,000.00
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