Rod is 10-years old and will be entering college in 8 years. Rods dad estimates college costs to be $16,000, $17,000, $18,000 and $19,000 payable at the beginning of each of Rod's four years in college. How much must Rod's dad save each year (assume end of year payments) for each of the next 8 years to have enough savings to pay for Reid's education? Assume Rod's dad can earn 9% on his savings.

A. a. $5,108
B. b. $7,720
C. c. $5,569
D. d. $7,677