Rocky Corp. anticipates needing a new vehicle for its President 4 years from now. It believes the vehicle will cost $32,000 in four years. How much will the company need to save on a bi-annual (i.e., twice per year) basis starting six months from now if it believes it can earn 10 percent on the amount it saves? Ignore taxes.

		$3,351 (rounded)
		$6,895 (rounded)
		$32,000 (rounded)
		$545 (rounded)