Your friend offers to pay you an annuity of $10,000 at the end of each year for 3 years in return for cash today. You could earn 5.5% on your money in other investments with equal risk. What is the most you should pay for the annuity?

Select the correct answer.

a. $26,971.53

b. $26,948.13

c. $26,963.73

d. $26,955.93

e. $26,979.33