If an Endowment Fund of $2,327,000 Is to Be Used

If an endowment fund of $2,327,000 is to be used to pay out grants of $175,000 at the end of every year in perpetuity what effective rate of interest must the funds earn?

A) 11.61%
B) 10.06%
C) 8.93%
D) 7.52%
E) 5.44%