13. Suppose an annuity, A1, pays Cat the end of each year until year T, has a discount rate of 5%. A second annuity, A2, with the same annual payment C, and discount rate of 5%, but instead with its first payment today and its final payment at the end of year T-1, has a present value of $25,000. What is the present value of the first annuity, A1? A. $25,000.00 B. $26,250.00 C. $23,809.52 D. $27,562.50