You Own a Small Machine Shop

You own a small machine shop. You would like to save $180,000 to buy some new equipment two years from now. The plan is to set aside an equal amount of money each quarter, starting today. You can earn a 5.3% rate of return. How much does the firm have to save each quarter to achieve this goal?

A) $20,637.04
B) $20,709.18
C) $20,711.14
D) $21,196.31
E) $21,477.16