You want to go to Europe 5 years from now, and you can save $8,500 per year, beginning one year from today. You plan to deposit the funds in a mutual fund that you think will return 8.5% per year. Under these conditions, how much would you have just after you make the 5th deposit, 5 years from now?

a. $59,935.15

b. $42,307.16

c. $55,905.89

d. $52,883.95

e. $50,365.67

Show your work.