Assume that you own an annuity that will pay you $15,000 per year for 12 years, with the first payment being made today.

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Assume that you own an annuity that will pay you $15,000 per
year for 12 years, with the first payment being made today. You
need money today to start a new business, and your uncle offers to
give you $120,000 for the annuity. If you sell it, what rate of
return would your uncle earn on his investment?
) Select one:
a. 6.85%
b. 7.21%
c. 7.59%
d. 7.99%
e. 8.41%