A Pension Fund Has Just Deposited $90,000 into a Plan

A pension fund has just deposited $90,000 into a plan. These deposits will increase by 2% per year for 40 years. Given an interest rate of 5%, what is the present value of this plan?

A) $4,150,000
B) $3,050,000
C) $2,070,000
D) $1,970,000
E) $1,737,000