$3.$ What is the present value of the cost of college education

for $4$ children ages $1,3,5,$ and $7.$ The current cost of college is

$$25,000.$ The children will begin college at age $18$ and be in

college for $4$ years. Education inflation is expected to be $6\%$ and

the parents$$ portfolio rate of return is $8\%.$ a$.$ $$294,000.$ b$.$

$$295,000.$ c$.$ $$300,000.$ d$.$ $$305,000.$