A company has liabilities that require it to make payments of 1,000 at the end of each of the next five years. The only investments available to the company are as follows:

Investment	Price	Subsequent Cash Flows
J	1,500	500 at the end of each year for 5 years
K	500	1,000 at the end of year 5
L	1,000	500 at the end of each year for 4 years
M	4,000	1,000 at the end of each year for 5 years

The company is able to purchase as many of each investment as it wants, but only in whole units. The companys investment objective is to be fully immunized over the next five years.

Calculate the lowest possible cost to achieve this objective.

1. 1,500

2. 2,000

3. 2,500

4. 3,000

5. 4,000