Problem:
Tommy's grandparents have left him a trust fund that will pay him $9,000 a year for eighteen years once he turns twenty one, which is five years from today. Tommy would prefer to have the cash today for a new car, a new snowboard, a season's ski pass, and various other necessities of life. His uncle has offered to pay him a lump sum today in return for the rights to the trust fund payments. If Tommy can earn an average annual return of 11% on his money, what is the minimum amount he should expect to receive for the rights to the fund? Explain comprehensively and provide all workings and methods.
A. $69,315
B.45, 660
C. $51,100
D. $38,325