Retirement Benefits for Smith (Age 61) and Jones (Age 60)

Retirement benefits for Smith (age 61) and Jones (age 60) payable annually: Smith: a 5-year temporary life annuity-due of XJones: a 10-year certain and life annuity-due of $20,000The present value of Jones's annuity is 4 times that of the present value of Smith's annuity.Selected actuarial factors: a60 = 11.53496a 60:10 = 7.26514a62:4 = 3.58056P61 = 0.99394i = 7.0% per year, compounded annuallyIn what range is X?

A) Less than $13,050
B) $13,050 but less than $13,350
C) $13,350 but less than $13,650
D) $13,650 but less than $13,950
E) $13,950 or more