What is the present value of a 6-year ordinary annuity of $3,000 per year plus an additional $1,250 at the end of Year 6 if the interest rate is 4%?
a. $15,726.41
b. $16,355.47
c. $16,714.30
d. $17,058.88
e. $17,156.34
Note: show work
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