You want to endow a scholarship that will pay $10,000 the first year then increase by 2% per year forever starting one year from today. If the schools rate of return on the endowment is 7% per year, what amount must your endow today to fund the scholarship?

a. $142,857.14 b. $11,449.00 c. $100,000.00 d. $200,000.00