A new investment opportunity for you is an annuity that pays $1,750 at the beginning of each year for 3 years. You could earn 5.5% on your money in other investments with equal risk. What is the most you should pay for the annuity? Select the correct answer.

a. $5,006.66 b. $4,993.86 c. $4,968.26 d. $4,981.06 e. $4,955.46