A small business has determined that the machinery they currently use will wear out in 17 years. To replace the new machine when it wears out, the company wants to establish a savings account today. If the interest rate on the account is 1.1 percent per quarter and the cost of the machinery will be $300,000, how much will the company have to deposit today?

Group of answer choices

$144,282.21

$144,475.77

$145,743.10

$249,087.31

$142,574.77