5 A 20-year annuity immediate will make a payment of 10 one year from now. Thereafter payments will be made annually, with each payment being 4% greater than the previous payment. The annual effective rate of interest is 12%. Which of the following is closest to the present value of the annuity? Select one: a 89 eroes out b. 86 cross out cross out c. 104 d. 97 Cross Out