What Amount Can You Borrow If You Make Six Quarterly $\bold{\text{(Use appropriate factor(s)from the tables provided.)}}$

Multiple Choice

What amount can you borrow if you make six quarterly payments of $4,000 at a 12% annual rate of interest? (PV of $1,FV of $1,PVA of $1,and FVA of $1) $\bold{\text{(Use appropriate factor(s) from the tables provided.) }}$

A) $24,838.00
B) $21,668.80
C) $31,049.00
D) $40,000.00
E) $44,800.00