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29. On June 15, 2014, the Board of Directors of Thelonious Corp. adopted a plan to accumulate funds for environmental improvements to be implemented on
29. On June 15, 2014, the Board of Directors of Thelonious Corp. adopted a plan to accumulate funds for environmental improvements to be implemented on July 1, 2018, at an estimated cost of $6,000,000. Thelonious Corp. plans to make four equal annual deposits in a fund that will earn interest at 10% compounded annually. The first deposit was made on July 1, 2015. Thelonious Corp. should make four annual deposits of:
a. $1,067,426. b. $1,175,295. c. $1,292,825. d. $1,500,000.
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