Red Sun Rising Corp. has just signed a lease for its new manufacturing facility. The lease agreement calls for annual payments of $1,200,000 for 30 years with the first payment due today. If the interest rate is 3.29 percent, what is the value of this liability today?

a. $23,408,391.34

b. $23,993,601.13

c. $24,578,810.91

d. $21,529,646.41

e. $22,662,785.69