A building contractor obtained bids for some paving. Three paving sub-contractors quoted the prices and terms of payment in the table below. The building contractor uses a 8.83% nominal interest rate compounded monthly. Price Payment Schedule 50% payable immediately A $92,000 25% payable in 6 months 25% payable at year-end B $86,000 50% payable immediately 50% payable at year-end 25% payable immediately C 86,050 50% payable in 6 months 25% payable at year-end (1) Which of the following effective interest rates is appropriate for this analysis? Select one: O A. Semi-annual O O B. Annual C. Daily D. Quarterly E. Continuous O O