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You and some of your classmates have decided that you would like to establish a scholarship at Southeastern for business students. Everyone agrees that the scholarship endowment should pay $90,000 per year without ever decreasing the principal. If endowments receive returns of 5% when invested, how much money will you and your classmates need to raise? Select one: a. Less than $500,000 b. Between $500,000 and $800.000 c. Between $800,000 and $1.200,000 d. Between $1,200,000 and $1,600,000 e. Greater than $1,600,000