Your friend is about to retire in four years from today. According to your financial plan for him, he needs $1,600 monthly until death. Assuming life expectancy of 20 years and interest rate 6%, how much your friend needs to have in his bank account today? Keep four decimal places in all computations.

Select one:

a. $226,227.00

b. $226,228.56

c. $179,192.98

d. $226,229.56

e. $226,221.56