An insurance settlement offer includes annual payments of $36,000, $42,000, and $50,000 over the next three years, respectively, with the first payment being made one year from today. What is the minimum amount you should accept today as a lump sum settlement if your discount rate is 7 percent?
A. $119,877.67
B. $111,144.18
C. $105,000.10
D. $118,924.27
E. $114,556.88