You own a Hilton branded hotel and based on your management contract with Hilton you are required to replace Furniture, Fixtures, and Equipment (FF&E) every 5-years. You know that the cost to replace the FF&E in 5-years will be $3,000,000. You would like to set aside funds into a reserve account at the end of each month. If the monthly interest rate is 0.25%, how much money do you need to put away at the end of each month?

	a.	$40,000
	b.	$46,406
	c.	$50,000
	d.	$185,627
	e.	$600,000