Rachel's Repairs, Inc. is considering renting a new shop. The landlord has offered a number of alternatives for paying the rent. The company's desired rate of return is 8%. The landlord offered a 3-year lease with the rent payments as follows: $15,000 at the end of the first year, $25,000 at the end of the second year, and $30,000 at the end of the third year. Using excel spreadsheet or a financial calculator, what is the present value of the rent payments over the life of the lease? (Round to the nearest dollar) Select one: a. $70,000 b. $59,137 c. $49,406 d. $75,600