Red Sun Rising Corp. has just signed a lease for its new manufacturing facility. The lease agreement calls for annual payments of $1,850,000 for 20 years with the first payment due today. If the interest rate is 3.55 percent, what is the value of this liability today?

Multiple Choice

$65,082.59

$95,678.72

$126,274.84

$130,757.59

$62,851.37

Please show a calculation of how it's done on the calculator. Thank you.