Obviously, the lifetime membership isnt a good deal if you only remain a member for a couple of years, but if you remain a member for 40 years, its a great deal. Suppose that the appropriate annual interest rate is 7.9%. What is the minimum number of years that Lloyd must remain a member of the ADLA so that the lifetime membership is cheaper (on a present value basis) than paying $700 in annual membership dues? (Note: Round your answer up to the nearest year.)

15 years 16 years 13 years 19 years