You are offered the opportunity to put some money away for retirement. You will receive five annual payments of $$20,000$ each beginning at $40$ years.

How much would you be willing to invest today if you desire an interest rate of $11\%?$

a$.$ $$1,842\mathrm{.}66$

b$.$ $$1,318\mathrm{.}47$

c$.$ $$1,262\mathrm{.}27$

d$.$ $$2,720\mathrm{.}23$

e$.$ $$2,257\mathrm{.}62$

$($ c is incorrect answser.$)$