Contemplating retirement an individual wants to create a fund on an 5% basis allowing $24,000. annual withdraws for 20 years. How much must the balance of the fund equal to allow the $ 24,000. equal annual withdraws beginning one year hence? Following are appropriate factors from tables:

Table

% / n

Present Value of annuity due $1Present Value of ordinary annuity of $1Present value of $1Future Value of ordinary annuity of $15%/2013.0853212.46221.3768933.06595

A. $314,047.68

B. $316,127.54

C. $299,093.04

D. $320,975.78

B.

C.

D.