74. The following information relates to a lease contract: Inception: 1/1/x1 Annual lease payments of $3,000 due each 12/31 beginning 12/31/x1 End of lease term: 1/1/x5 There are 4 lease payments in all Useful life of asset at inception: 10 yrs Expected residual value at 1/1/x5: $6,000 Lessee is given option to purchase asset at 1/1/x5 for $1,000 Using an interest rate of 10%, what is the present value of minimum lease payments for the lessee at inception? A $10,193 B. $9,510 c. $10,419 D. $13,608 E. $13,000