An investment will pay $3,000 every 3 years with the first payment occurring 3 years from today. The investment has a 12-year life. To compute the present value of this investment you need to calculate theA) present value of a $3,000, 12-year annuity, and divide the result by 4.B) present value of a $1,000 annuity with 12 time periods.C) rate of growth for each 3-year period.D) present value of a $3,000 annual annuity with four payments and discount that value for 3 years.E) interest rate for the 3-year period.

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