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Your friend offers to pay you an annuity of $4,800 at the end of each year for 3 years in return for cash today. You

Your friend offers to pay you an annuity of $4,800 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. $12,932.48 b. $12,950.08 c. $12,923.68 d. $12,941.28 e. $12,958.88

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