To complete your last year in business school and earn an MBA, you will need $12,000 each spring, summer and fall for three years, starting next year (that is, you will need to withdraw $12,000 one year from today for this plan). Your savvy and generous parents offer to put you through school. How much will they need to deposit in a bank account today, if the account pays 2.8% interest per year, compounded three times per year, to fund your education (to the nearest dollar)?

A. $108,000

B. $102,247

C. $104,315

D. $137,656

E. $282,932