Nelson Company owes money to Nash Company for the purchase of equipment. Nash Company has given Nelson the following payment options: 1. Immediate payment in full of $31,000. II. Annual payments of $12,000 made at the end of each of the next three years. III. A single payment of $41,000 made at the end of three years. Assume that both Nelson and Nash use a 18% interest rate compounded annually. What option would Nash prefer, and what is the present value of that option? Multiple Choice Option I, $31,000. Option III, $23,085. Option 1, $23,463 Option III, $24,969. Option II, $26,088