John is thinking of investing in a fund run by Armidale Investment Co. Ltd. He will be required to invest 17 equal annual payments of $1,900 each, starting one year from today. If the required rate of return is 7.30% per annum, compounding daily, then the present value of these payments is

Select one:

a. $18,170.78

b. $17,836.81

c. $19,775.84

d. $16,554.19