The Flores Family loves to go sailing on the weekends. Mr. Flores has decided to purchase a more spacious sailboat. The sailboat he is interested in buying in 4 years will cost him $25,000. An account at Invest Well Bank earns 2% per year compounded monthly. How much should Mr. Flores deposit in this account at the beginning of each month to be able to pay cash for the sailboat in 4 years?

a) $467.33

b) $534.09

c) $500.71

d) $607.48

e) $510.71

f) None of the above.