A Debt of $60,000 Is to Be Paid Off by Installments

Multiple Choice

A debt of $60,000 is to be paid off by installments of $20,000 in 20 days from today,$1500 in 60 days from today and a final payment of $X in 85 days from today.If simple interest is charged at r = 16% and the declining balance method is used,what is X?

A) $40,149.32
B) $40,172.09
C) $40,180.74
D) $41,585.76