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The Good Life Insurance Co. wants to sell you an annuity which will pay you $800 per quarter for 25 years. You want to earn

The Good Life Insurance Co. wants to sell you an annuity which will pay you $800 per quarter for 25 years. You want to earn a minimum rate of return of 6.5 percent. What is the most you are willing to pay as a lump sum today to buy this annuity?

a.	$53,359.07
b.	$54,886.98
c.	$39,033.21
d.	$39,409.20
e.	$43,989.47

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