A company takes out a bank loan of R110 000 at 8% per annum on the 1^st of January. The loan agreement states that the company will pay back the loan (capital and interest) over 3 years in equal quarterly payments. What will the payment for each quarter be if you apply either the correct equation, mathematical formula, or financial calculator. [Set your calculator at four decimals and round the final answer to the nearest rand. Slight rounding differences may occur - choose the alternative that is closest to your answer.]

(a) R 42 685

(b) R 33 884

(c) R 10 402

(d) R139 594