(Solution Download) If you expect to receive a gift of 50 000 six

If you expect to receive a gift of $50,000 six years from now, the present worth of the gift at a real interest rate of 4% per year and an inflation rate of 3% per year is closest to:
(a) $27,600
(b) $29,800
(c) $33,100
(d) $37,200