Your subscription to Consumer Reports is about to expire. You may renew it for $24 a year or, instead, you may get a lifetime subscription to the magazine for a one time payment of $400 today. Payments for the regular subscription are made at the end of each year. Using a discount rate of 5%, how many years does it take to make the lifetime subscription the better deal?

	a.	36 years
	b.	34 years
	c.	35 years
	d.	37 years