A city plans to set aside funds for future renovations and annual maintenance costs. The estimated cost of renovations will be $100,000 every 15 years, with the first one occurring in 10 years. Annual maintenance costs are $10,000 per year. The fund is expected to earn 5% interest per year. How much must the city set aside now to cover the periodic renovations and the annual maintenance costs forever?
a) $90,000
b) $120,000
c) $150,000
d) $200,000