A young couple just had their first baby and they wish to insure that enough money will be available to pay for her college education. They decide to make annual deposits into an educational savings account on each of their daughters birthdays, starting with her first birthday in one year (year 1). The educational savings account pays an annual interest rate of 8.0%. The parents deposit 2,300 on their daughters first birthday and plan to deposit the same amount every year. Assuming that the parents have already made the deposit for theirs daughters 18th birthday (year 18), then the amount available for college expenses on her 18th birthday is:

1. 77,625.52

2. 21,555.34

3. 81,727.03

4. 86,135.56