You have a chance to buy an annuity that pays $1,000 at the end of each year for 5 years. You could earn 6% on your money in other investments with equal risk. What is the most you should pay for the annuity?
a. $3,324.89
b. $2,591.45
c. $4,212.36
d. $2,011.87
e. $3,854.13