Your company has just opened and must dispose of its biomedical waste. The base cost that was quoted to you was $8,000 per month but as business increases you expect the cost to grow by $75 per month. If the interest rate is 3% compounded monthly what is the future cost of the disposal at the end of the third year?

a. $349,581

b. $247,365

c. $495,385

d. $218,707