Jill would like to plan for her sons college education. She would like for her son, who was born today, to attend college for 5 years, beginning at age 18. Tuition is expected to be $12,000 per year without tuition inflation. Jill can earn an after tax rate of return of 8%. How much must Jill save at the end of each year, if she wants to make the last payment at the beginning of her sons first year of college?

a) $1,146.19

b) $1,279.36

c) $849.77

d) $1,381.71