You are raising funds for club A foundation offers to pledge $15,000 a year for the next 20 years starting today. Alternatively, the foundation can offer $15,500 for 20 years but starting one year from today. Which option do you prefer? (a) Option starting today. (b) Option starting next year. (c) Unclear, depends on the one-year interest rate. (d) Unclear, depends on the interest rates for maturities 1 to 21 years