A policyholder wishes to purchase a fixed annuity guaranteed until both she and her husbands death. She purchases the contract when she is 66 and he is 68, and their life expectancy is 88 and 85, respectively. The insurer guarantees a 3% rate of return. What will she need to deposit to receive the following monthly payments?

A. $6,000

B. $7,000

C. $8,000

D. $9,000