92. Christine Parry sets up a fund to pay for her daughter’s education. She invests an initial principal amount in this account, which then pays out $30,000 per year for the next 4 years in order to cover tuition expenses. It also pays out money for living expenses for these 4 years, starting at $12,000 in the first year and increasing by 5% every year till the fourth year. The interest rate is 6%. Find the required initial principal to pay for Christine’s daughter’s degree. (4.12)