On January 15, 2014, Dolan Corp

Multiple Choice

On January 15, 2014, Dolan Corp. adopted a plan to accumulate funds for environmental improvements beginning July 1, 2018, at an estimated cost of $6,000,000. Dolan 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, 2014. Future value factors are as follows: Dolan should make four annual deposits of

A) $1,067,426.
B) $1,174,168.
C) $1,293,103.
D) $1,500,000.