Gina Vitale has just contracted to sell a small parcel of land that she inherited a few days ago. The buyer is willing to pay $15,915 at the closing of the transaction or will pay the amounts shown in the following table. , at the beginning of each of the next five years. Because Gina doesn't really need the money today, she plans to let it accumulate in an account that earns 7% annual interest. Given her desire to buy a house at the end of five years after closing on the sale of the lot, she decides to choose the payment alternative long dash $15,915 single amount or the mixed stream of payments in the table long dash that provides the higher future value at the end of 5 years.

Mixed Stearm

Begenning of Year Cash Flow

1 $3,000 2 $2,000 3 $3,000 4 $8,000 5 $3,000

Which alternative will she choose?

The future value, FV Subscript n FVn, of the lump sum deposit is $ . (Round to the nearest cent.)