George Jefferson just established a trust fund that provides $167,500 in scholarshipseach year in perpetuity. Assuming the trust fund earns a 2 percent annual rate of return, how much money did Mr. Jefferson contribute to the fund?

A) $5,025,000

B) $2,955,705

C) $8,275,000

D) $4,020,000

E) $6,700,000