You currently have $90,000 invested in shares and at the end of each year you save $3,000 from your wages to buy more shares, adding to your portfolio. If the shares' total expected return is 12% pa and all dividends are re-invested, calculate how many years it will take your share portfolio to reach $260,000. Round your answer up to the nearest year.

Select one:

a.

8 years

b.

9 years

c.

10 years

d.

11 years

e.

12 years