A young graduate has been offered a time-share on a condo in Steamboat Springs, Colorado. To be a part owner, the graduate must pay $1,621.00 at the end of each year for the next 19 years, with the first payment due exactly one year from today. If the graduate's discount rate is 8.40% p.a., then the graduate should be willing to pay s. today instead of making payments. 1) 15,129,43 2) 14,608.83 3) 16,505,62 4) 16,754,00 5) 15.793 .99