You Will Receive Annual Payments of $2,400 at the End

You will receive annual payments of $2,400 at the end of each year for 15 years.The first payment will be received in year 6.What is the present value of these payments if the discount rate is 7 percent?

A) $11,465.20
B) $12,018.52
C) $13,299.80
D) $15,585.16
E) $16,856.60