You are the beneficiary of a trust fund that will pay you cash flows every three years, starting with the first payment today. The cash flows will continue for 21 years (the last payment is 21 years from today). The future value of the cash flows is $200,000 in 21 years, if the interest rate is 2% per year, what is the value of each cash flow?

a) $23,740

b) $23,302

c) $21,340

d) $20,120