Michael is considering investing in an annuity being offered by Rice Ltd. The annuity will pay her $3,000 per month for 2 years. Michael is trying to work out how much this annuity is worth. He thinks she should receive a return equivalent to a nominal interest rate of 7.30% per annum, compounding daily. What is the value of this annuity to Michael?

Select one:

a. $66,787.66

b. $65,524.70

c. $67,878.18

d. $68,254.03