You are in negotiations to make a 7-year loan of $21,000 to DeVille Corporation. To repay you, DeVille will pay $2,500 at the end of Year 1, $5,000 at the end of Year 2, and $7,500 at the end of Year 3, plus a fixed but currently unspecified cash flow, X, at the end of each year from Year 4 through Year 7. You are confident the payments will be made, since DeVille is essentially riskless. You regard 8% as an appropriate rate of return on a low risk but illiquid 7-year loan. What cash flow must the investment provide at the end of each of the final 4 years, that is, what is X?

Select the correct answer.

a. $3,211.82

b. $3,184.62

c. $3,171.02

d. $3,198.22

e. $3,157.42

Please show calculations and how to do those! thank you