On 11/11/20, Sanchez Company financed the purchase of a machine by making a down payment of $7,000 and signing a note agreeing to make additional payments of $7,000 at the beginning of each of the next five years. The appropriate rate of interest was 6%. How will Sanchez value the acquisition of the new truck?

a. $42,000

b. $36,467

c. $35,000

d. $29,487