Babar Wants to Withdraw $27 000

Babar wants to withdraw $27 000.00 at the beginning of each quarter for twelve years. If the withdrawals are deferred to begin ten years from now and interest is 5.6% compounded monthly calculate the amount that must be invested today to be able to make the withdrawals.

A) $950 943
B) $1 859 180
C) $543 895
D) $1 063 365
E) $546 034