Salvatore has the opportunity to invest in a scheme which will pay $7,500 at the end of each of the next 5 years. He must invest $15,000 at the start of the first year and an additional $15,000 at the end of the first year. What is the present value of this investment if the interest rate is 3% ? A. $4,784,70 B. $4,784.70 C. $8,861.35 D. $8,861.35