Consider the first part of the Highwell case, in which George and Marilyn were deciding how much to put aside on an annual basis to save for their daughter's college expenses.Suppose that George and Marilynalready have $20,000in a college savings account for their daughter, and they want to calculate the annual annuity payment required to meet their objective.Now what is the minimum annual savings amount they need to set aside in years 1-17?

Previous $0; Minimum needed $9703.70 each year with 4% interest and 2.5% inflation.

What is George and Marilyn started with $20,000

a.$8857

b.$8444

c.$6592

d.$8001