Consider the following information: Lease term 5 year Annual payments 6,000 on January 1 each year Year Life of asset 5 years Implicit interest rate 8% Incremental rate 8%, there is no expected residual value What is the fair value of asset? ( select the approximate value ) Select one: a. 30,873 b. 20,000 c. 6,000 d. 25,873