Your friend offers to pay you an annuity of $6,300 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. $16,996.98

b. $17,002.88

c. $17,014.68

d. $17,020.58

e. $17,008.78