Assume that you own an investment that will pay you 15,000 per year for 12 years, with the first payment today. You need money today to start a new business, and your unclue offers to give you $120,000 for the investment. If you sell it, what rate of return would your uncle earn on annuity?

a. 7.12%

b. 7.59%

c. 8.41%

d. 7.99%