Ivan, an industrial engineering student, is working on a homework problem for Engineering Economy. He needs to calculate the PW at 12 percent of a cash flow series with \(\$ 1,000\) at \(t=3, \$ 1,500\) at \(t=4\), and \(\$ 2,000\) at \(t=5\). If Ivan uses the equation \(P=1,000(P \mid A 12 \%, 3)+\) \(500(P \mid G 12 \%, 3)\), where is the \(P\) now located?

a. \(t=4\)

b. \(t=2\)

c. \(t=1\)

d. \(t=0\)