Your parents have made you two offers. The first offer includes annualgifts of $$5,000,$ $$5,500,$ and $$6,000$ at the end of each of the next threeyears, respectively. The other offer is the payment of one lump sumamount today. You are trying to decide which offer to accept given thefact that your discount rate is $6\mathrm{.}7$ percent. What is the minimum amountthat you will accept today if you are to select the lump sum offer?