The treasurer of GHI International expects to invest $180,000 of the firm's funds in a long-term investment vehicle at the end of each year for the next 8 years. He expects that the company will earn 6% interest that will compound annually. The value that these payments should have at the end of the 8-year period is calculated as:

a. $1,781,544

b. $1,481,544

c. $2,531,544

d. $1,931,544

e. $1,181,544