5.) A company has just hired a new CEO. Under the job contract the new CEO will receive a large payment of $25,100,000 upon the completion of her first 7 years of service. In order to prepare for this anticipated cash outflow the company plans to set aside an equal amount of money each year. Each of these amounts will be put into an account at 6 percent annual rate. Based on the company's calculations, it will need to set aside each year for this purpose. a. $1,506,000.00 b. $1,665,570.77 c. $2,912,541.44 d. $2,917,624.93 e. $2,990,288.95