Chris is planning for her son$$s university education to begin five years from today. She estimates the yearly tuition, books and living expenses to be $$5000$ per year for a four$-$year degree. Assume that all living expenses are paid in full at the end of each year of study. How much must Chris deposit today, at an interest rate of $8$ per cent, for her son to be able to withdraw $$5000$ per year for four years of university?

Group of answer choices

$40,000$

$23,000$

$12,000$

$11,270$