Kingdom Cones, a small but successful ice cream stand in your community, plans to add new frozen yogurt...

33. Kingdom Cones, a small but successful ice cream stand in your community, plans to add new frozen yogurt machines in 2 years. If the cost for the new yogurt machines is $32,000, calculate how much the owner must deposit into a sinking fund each quarter, assuming the funds will earn 10% and will be compounded quarterly.
According to the Sinking Fund Table, the factor at 2.5% for 8 compounding periods is 0.11447.
$28,336.96
$11,447.00
$4,000.00
$3,663.04