When Kathryn's father died, she received a $150,000 death benefit from his life insurance. She purchased a variable annuity, which will generate an income for the next 15 years based upon the performance of a segregated fund. For the first year of the annuity contract, the insurance company anticipated a rate of interest of 6% compounded monthly with payments made at the start of each month. Steve is concerned that Mile High does not adhere to safety regulations, which puts workers in jeopardy. Just last week, a beam that he was moving into position with his crane fell to the ground, narrowly missing two workers. An investigation revealed that the beam had been incorrectly loaded. In response to orders from management to cut the cost of wages, the foreman had assigned the task of loading the beam to an inexperienced apprentice without the supervision of a more experienced worker Based on the rate of interest anticipated by the insurance company, how much will Kathryn receive from her variable annuity at the beginning of each month during the first year? a) $1,266 b) $1,186 c) $1,304 d) $1,259