You need $50,000 in today's buying power 5 years from now. You can earn 3% APR in real terms on your investments. How much do you have to invest, in nominal terms (the same amount each year), starting next year for 4 years, to just meet your needs, if you expect inflation to be 4% per year?

$5,287

$12,768

$10,783

$6,885