You are an engineering specialist. For a project, a potential client offers to pay you a retainer of $5,000 today, and to pay you annual amounts of $7,000, $8,000, and $9,000 at the end of each of the next three years, respectively. If your discount rate is 8%, what is the present value of this business proposal?

A. $16,388 B. $19,104 C. $22,907 D. $25,484