Kevin and Zaria are saving for their daughter Cadence's college education. Cadence just turned 10 (at t=0 ), and she will be entering college 8 years from now (at t=8 ). College tuition and expenses at State U. are currently $16,000 a year, but they are expected to increase at a rate of 35% a year. Cadence should graduate in 4 years-if she takes longer or wants to go to graduate school, she will be on her own. Tuition and other costs will be due at the beginning of each school year ( at t=8,9,10, and 11). So far, Kevin and Zaria have accumulated $16,000 in their college savings account (at t=0 ). Their long-run financial plan is to add an additional $4,000 in each of the next 4 years (at t=1,2,3, and 4). Then they plan to make 3 equal annual contributions in each of the following years, t=5.6, and 7 . They expect their investment account to eara 8%. How large must the annual payments at t=5.6, and 7 be to cover Cadence's anticipated college costs? a. 57.705.88 b. 58,941.14 c. 57,135.08 d. 58.278.84 e 56.371.65