William has $11,600.00 saved and plans to make annual savings contributions of $10,401.23. His first annual savings contribution is expected in 1 year. William expects to earn 6.23 percent p. What is the total amount William will have saved after 5 years, assuming he makes all the planned contributions and earns the expected interest rate?

A) $68,000.00
B) $70,000.00
C) $72,000.00
D) $74,000.00