The present value of an annuity certain of $1000 payable for n years commencing one year from now is $6,063. The effective annual rate of interest is 12.5%. In which of the following ranges is the present value of an annuity certain of $1000 commencing one year from now and payable for n+2 years? Less than $6,250 $6,500 but less than $6,750 $6,750 but less than $7,000 $6,250 but less than $6,500 $7,000 or more