has a unfunded pension liability of $900 million that must be paid in 15 years. To assess the value of the State's future(required payout), financial analysis want to discount this liability back to the present. The relevant discount rate is 6.5 percent. What is the present value of this liability assuming quarterly compounding?

a. $349,943,872

b. $298,545,678

c. $342,144,051

d.$357,546,995