The ISU College of Business just received an endowment of $500,000 for scholarships. You want have a perpetual scholarship amount that is equal for each year, but the catch is you want the first scholarship to begin immediately. If the discount rate is 5%, the amount of the annual scholarship (beginning immediately) is closest to what value? a. $21,000 b. $23,000 c. $25,000 d. $24,000 e. $22,000