Grant Corporation Is Looking to Purchase a Building Costing $900,000

Grant Corporation is looking to purchase a building costing $900,000 by paying $300,000 cash on the purchase date,and agreeing to make payments every three months for the next five years; the first payment is due three months after the purchase date.Grant's incremental borrowing rate is 8%.How much will each of the payments be?

A) $55,041
B) $61,112
C) $36,694
D) $32,400