Turning Tires Co. is considering renting a new bike shop. The landlord has offered a number of alternatives for paying the rent. The company's desired rate of return is 10%. The landlord offered a 3-year lease with $4,000 to be paid for rent at the end of each year. Using a spreadsheet or financial calculator, calculate the present value of rent payments over the life of the lease. The present value of rent payments over the life of the lease is: Select one: A. $ 9,016 B. $ 4,000 C. $12,000 D. $ 9,947