John has a 20 year sinking fund loan of 250,000. Under the sinking fund loan, he will pay the interest at the end of each year on the loan. Additionally, he will make a deposit into a sinking fund at the end of each year. The deposit into the sinking fund will be such that the amount in the sinking fund will exactly repay the loan at the end of 20 years.

The annual effective interest rate on the loan is 12% and the sinking fund pays an annual effective interest rate of 9%. John make deposits into the sinking fund for 12 years.

Determine the amount that John has in the sinking fund right after the 12th deposit.

A. 94,420.02

B. 95,420.02

C. 96,420.02

D. 97,420.02

E. 98,420.02