William's son starts college in 12 years. He estimates the current deficit for his college education funds is $98,919. Assume that after-tax rate of return that William is able to earn from his investment is 9.95 percent annually. He is going to invest additional amounts every month at the beginning of the period for 4 years. Compute the monthly beginning of-the-period payment that is necessary to fund the current deficit. (Please use monthly compounding, not simplifying average calculations).