Nelson Company Owes Money to Nash Company for the Purchase

Nelson Company owes money to Nash Company for the purchase of equipment.Nash Company has given Nelson the following payment options:
I.Immediate payment in full of $38,000.
II.Annual payments of $15,000 made at the end of each of the next three years.
III.A single payment of $48,000 made at the end of three years.
Assume that both Nelson and Nash use a 10% interest rate compounded annually.What option would prefer,and what is the present value of that option?
A.Option I,$34,542.
B.Option I,$38,000.
C.Option II,$37,305.
D.Option III,$34,164.
E.Option III,$36,048.
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