Warren's Diner needed a new location. This establishment spent $65,000 to refurbish an old shop and create the current facility. The firm borrowed 75 percent of the refurbishment cost at 8 percent interest for 11 years. What is the amount of each monthly payment?
a. $91.05
b. $284.13
c. $556.50
d. $682.87
e. $731.60