Find the present value of 10 annual payments of $4,500 per annum where the first payment is made 2 years from now. So there are 10 annual payments from t=2 to t=11 inclusive. The discount rate is 22% pa. The present value of these payments is:

Select one:

a. $2,800.216

b. $14,470.762

c. $17,038.282

d. $17,654.3296

e. $18,573.1857