A ten-year security generates cash flows of $1,000 a year at the end of each of the next five years (t = 1, 2, 3, 4, 5). After the fifth year, the security pays some constant cash flow at the end of the next four years (t = 6, 7, 8, 9). Ten years from now (t = 10) the security will mature and pay $20,000. The security sells for $35,000 and promises a rate of return of 11%. What annual cash flow does the security pay for years 6 through 9?

• $4206.87

• $6159.27

• $13176.77

• $10692.85