Sterling & Cooper Company leased a trailer to Exotic Pets for use in delivering inventory. The finance lease has a 4-year term, 7% implicit rate, and begins on January 1, 2017. The lease requires a down payment of $15,000 and three equal annual lease payments on December 31 of 2017, 2018 and 2019. The list price of the trailer on the inception date is $80,000. What is the dollar amount of each annual payment that Sterling & Cooper Company will receive? Select one: a. $29,376.69 b. $24,768.36 c. $23,868.56 d. $34,957.32