You are scheduled to receive annual payments of $6500 for each of the next 8 years. The discount rate is 6% with annual compounding. What is difference in the present value if you receive these payments at the beginning of each year rather than at the end of each year?
A. approx. $2021
B. approx. $2422
C. approx. $3033
D. approx. $1325
E. approx. $2482