3. (10 points). Mary owns some land. She puts it up for sale, and receives two offers. The first offer is to pay her a downpayment (right now) of $20,000 plus a further payment of $30,000 five years from now. The second offer is to pay her no downpayment, but rather payments of $25,000 one year from now and $25,000 three years from now. Assume that interest rates will be j2 = 8% for the first two years, and j = 12% thereafter. Which offer should Marry accept? You must show your work.