Time value of money question. Please show your work. Thank you.

Lloyd is a divorce attorney who practices lawI in Fiorida. He wants to join the American Divorce Lawyers Association {ADM}, a professional organization for divorce attorneys. The membership dues for the ADLA are $800 per year and must be paid at the beginning of' each year. For instance, membership dues for the first year are paid today, and dues for the second year are payable one year from today. However, the ADLA also has an option for members to buy a lif'etirne membership today for $8,500 and never have to pay annual membership dues. Obviously, the lifetime membership isn't a good deal if you only remain a member for a couple of' years, but if you remain a member for 4-0 years, its a great deal. Suppose that the appropriate annual interest rate is 16%. 1.I'quhat is the minimum number of' years that Lloyd must remain a member of' the ADLA so that the lifetime membership is cheaper [on a present value basis} than paying $800 in annual membership dues? {Ill-ate: Round your answer up to the nearest year.) Q 13 years 0 14 years 0 .13 years 0 19 years