Alisha is proud to be able to send her daughter to university. Her daughter starts university tomorrow. Alisha worries that the funds she has saved are insufficient to meet her goal 4 years of $25,000 per year, at the beginning of the year, for tuition, plus a lump sum of $50,000 available at the end of her studies to cover any unforeseen expenses. How much must Alisha have in available funds today, assuming a discount rate of 7%, compounded semi-annually?

$122,418

$131,136

$128,432

$125,609