Bader has been accepted to study international finance at the UAE Central Bank in Abu Dhabi. To cover his tuition and living expenses, Bader will need $10,588 per year, beginning today, for the next 3 years. parents have agreed to pay for his education, and want to make one deposit today in a bank account earning 6% interest, compounded annually. How much must the parents deposit now, so that Bader can withdraw $10,588 at the beginning of each year over the next 3 years? Round your answer to the nearest dollar.

Select one:

a. $30,000

b. $31,764

c. $28,302

d. $12,610