ST Trucking just signed a $3.8 million contract. The contract calls for a payment of $1.1 million today, $1.3 million one year from today, and $1.4 million two years from today. What is this contract worth today at a discount rate of 8.7 percent?

Select one:

A.

$3,480,817.37

B.

$3,202,840.91

C.

$3,783,648.48

D.

$3,202,223.89

E.

$2,108,001.32