The present value of the lease payment (Round off to nearest dollar) is ?

Captain Limited and America Limited enter into a lease agreement for a Tractor on 30 June 2018 with the following terms: ease term 3 years Annual Rental Payment in arrears starting from 30 June 2019 $15,000 Economic life of the Tractor 4 years Residual Value guaranteed by the lessee NIL Interest Rate implicit in the lease The relevant discount rates are: fear 30/06/2018 30/06/2019 0.9434 30/06/2020 0.8900 30/06/2021 0.8396 On inception date, the present value of the lease payments (rounded off to nearest dollar) is: Select one: O a. $45,000 b. $56,668 C. $53,460 d. $40,095