Present and Future Value Tables of $1 at 3% Are

Multiple Choice

Present and future value tables of $1 at 3% are presented below:

-On January 1, 2018, you are considering making an investment that will pay three annual payments of $10,000. The first payment is not expected until December 31, 2021. You are eager to earn 3%. What is the present value of the investment on January 1, 2018?

A) $28,286.
B) $25,886.
C) $26,662.
D) $27,300.