A company borrowed $41,900 cash from the bank and signed a 4-year note at 9% annual interest. The present value of an annuity factor for 4 years at 9% is 3.2397. The present value of a single sum factor for 4 years at 9% is .7084. The annual annuity payments equal:

Multiple Choice

$29,681.96.

$12,933.30.

$41,900.00.

$59,147.37.

$135,743.43.