(19) The parents of a newborn daughter would like to set aside an amount today to cover what they expect will be the total cost of four years of college education The parents estimate that the first year of tuition, fees, and living expenses will be S60,000 and will be due to the college on her 18h birthday exactly 18 years from today. The parents estimate that the following three payments, due on her 19th, 20th and 21st birthdays, will also be S60,000. What dollar amount would need to be set aside today to cover all four years of college education for the newborn? Use an interest rate of 5% A. S57,907 B. S62,222 C. $69,090 D. S92,825 E. $134,934