In New York City,you Need a License to Drive a Taxicab.Each

In New York City,you need a license to drive a taxicab.Each license is valid for three years,and then it expires.The holder of a license can expect to earn $10,000 in profit each year.If the interest rate is 5 percent (0.05) per year,what is the value of a newly issued taxicab license? (Assume that each year's profit is received at the end of the year. )

A) $1,990.74
B) $10,000.00
C) $14,074.07
D) $27,232.48
E) $30,000.00