(Ignore income taxes in this problem.) Assume you can invest money at a 10% rate of return. How much money must be invested now in order to be able to withdraw $3,000 from this investment at the end of each year for 8 years, the first withdrawal occurring one year from now? Exhibit 13B-2 to determine the appropriate discount factor(s) using tables. (Round discount factor(s) to 3 decimal places, and final answer to the nearest dollar amount.)

A) $1,401

B) $16,005

C) $14,604

D) $1,401