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In light of the impact of the coronavirus pandemic, Dawson's Bank, which is based in Hobart, would like to set up a reserve fund. The

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In light of the impact of the coronavirus pandemic, Dawson's Bank, which is based in Hobart, would like to set up a reserve fund. The fund will earn an interest rate of 3% per annum. If the fund pays a fixed amount of $25 million to the bank annually for an infinite period, starting one year from today, how much does Dawson's Bank need in the fund today? Select one: a. $858.33 million b. $809.1 million c. $884.1 million d. $833.3 million

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