Sammy is planning for his sons education. He expects his son will start post-secondary studies in 10 years. He is planning to provide his son with $25,000 at the beginning of every year for 4 years, and an additional $10,000 at the start of his program. At a return of 5%, compounded monthly, how much must Sammy have saved by the time his son leaves home to pursue his studies? Round to the nearest dollar.

Select one:

a. $92,933

b. $113,461

c. $125,671

d. $102,933