The city council has approved the building of a new bridge over Running Water Creek. The bridge will cost $18,500 for initial construction and have an annual maintenance cost of $700. The council plans to withdraw money from the citys Bridges and Highways account to open a special account to cover the initial construction and to fund a perpetuity to cover the maintenance costs forever. How much money must be withdrawn from the Bridges and Highways account if the city can expect to earn 4% on the special account?

$18,500

$36,000

$700

$19,200