Allen Inc. sold the rights to use one of its patented processes that will result in cash receipts of $2,500 at the end of each of the next four years and a lump sum receipt of $4,000 at the end of the fifth year. The total present value of these payments if interest is at 9% is:. Choose the closest answer.

A) $14,000.

B) $11,468.

C) $12,100.

D) $10,699