Red Sun Rising Corp. has just signed a lease for its new manufacturing facility. The lease agreement calls for annual payments of $1,750,000 for 10 years with the first payment due today. If the interest rate is 3.51 percent, what is the value of this liability today?

$15,433,749.34

$14,546,726.33

$15,057,316.43

$15,810,182.25

$13,819,390.02