(Ignore income taxes in this problem.) Schaad Corporation has entered into an 7 year lease for a piece of equipment. The annual payment under the lease will be $2,800, with payments being made at the beginning of each year. If the discount rate is 10%, the present value of the lease payments is closest to: Click here to view Exhibit 13B-2 to determine the appropriate discount factor(s) using table. (Round discount factor(s) to 3 decimal places, and final answer to the nearest dollar amount.)

A) $19,600

B) $13,630

C) $17,867

D) $14,994