Sirius Company Wants to Have $60,000 at the End of Eight

Sirius Company wants to have $60,000 at the end of eight years. The present value of $1, and the present value of an annuity of $1 for eight periods at 10 percent are 0.46651 and 5.33493, respectively.
How much must Sirius invest today in a fund that pays 10 percent, compounded annually?

A) $ 27,991
B) $ 11,247
C) $ 7,500
D) $320,096