On January 15, 2015, Dolan Corp

Multiple Choice

On January 15, 2015, Dolan Corp.adopted a plan to accumulate funds for environmental improvements beginning July 1, 2019, at an estimated cost of $8,000,000.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, 2015.Future value factors are as follows: Dolan should make four annual deposits of

A) $1,423,236.
B) $1,565,558.
C) $1,724,138.
D) $2,000,000.