Tuscarora Transportation Is Expected to Require $450,000 to Replace Part

Multiple Choice

Tuscarora Transportation is expected to require $450,000 to replace part of their fleet trucks in six years time. What yearly contribution at the end of each year will the company have to make to an investment paying 12% per annum to have sufficient money to purchase the trucks?

A) $55,453
B) $71,603
C) $227,964
D) $905,400
E) $759,150