You have won the local lottery and will receive $$1,000$ cash each year for three years. If the discounted rate is $5\%$ what is the present value of this award?

Multiple Choice

$$2,723\mathrm{.}25$

$$4\mathrm{.}57971$

$$2,590\mathrm{.}92$

$$3,150\mathrm{.}00$