William has to make rental payments of $1,000 at the start of every month, throughout the four-year duration of his university course. His university fees are $4,000 to be paid at the start of each year. He earns $1,500 per month (paid at the end of each month) from a part-time job. Assume an interest rate of 8% p.a. and that he keeps the part-time job for the next four years. How much money, in present value terms, can he withdraw each month for the next four years?

	A.	$144
	B.	$126
	C.	$55
	D.	$177