Kim and Doug Richards Are Making a Gift to the College

Kim and Doug Richards are making a gift to the college they both attended.They met and were married there,as well.They plan to make a $1 million gift,from which they will draw $150,000 of annual income for five years.At the end of the fifth year,the balance of the investment,$500,000,will go to the college.What return does the college need to achieve in order to meet the financial goal of $500,000?

A) 6.01 percent.
B) 6.16 percent.
C) 8.21 percent.
D) 9.63 percent.