The grand prize in the OMG Lottery is a choice between $1,000 paid at the beginning of each month for a period of 10 years and a lump sum paid immediately. If you can invest at an effective annual interest rate of 5%, what is the minimum lump sum you would be willing to accept as winner of this lottery?

A) $94,766 B) $95,152 C) $94,282 D) $94,675 E) $93,847