On January 15, 2007, Flynn Corp Flynn Should Make Four Annual Deposits of
A)$711,618

Multiple Choice

On January 15, 2007, Flynn Corp.adopted a plan to accumulate funds for environmental improvements beginning July 1, 2011, at an estimated cost of $4,000,000.Flynn plans to make four equal annual deposits in a fund that will earn interest at 10% compounded annually.The first deposit was made on July 1, 2007.Future value factors are as follows: $\begin{array}{l}\text { Future value of } 1 \text { at } 10 \% \text { for } 5 \text { periods } &1.61\\\text { Future value of ordinary annuity of } 1 \text { at } 10 \% \text { for } 4 \text { periods } &4.64\\\text { Future value of annuity due of } 1 \text { at } 10 \% \text { for } 4 \text { periods }&5.11\end{array}$ Flynn should make four annual deposits of

A) $711,618.
B) $782,779.
C) $862,069.
D) $1,000,000.