2) As part of a charitable program, TravelCorp wants to set up a trust to be used to fund grant proposals from the community for worthy causes. TravelCorp plans to fund this trust with an initial deposit of $500,000 today (assume it is 1/01/2020). At the end of each year, beginning 12/31/2020, Travel Corp plans to add an annual deposit of $50,000. The first payment from the trust will begin after the board has established the criteria/application for funding and had time to evaluate proposals received. The plan is to select one proposal each year, beginning on 12/31/2021, and award a payment of $75,000 on that date. You have been asked to prepare a report, showing the ending balance in the fund on 12/31/2020 12/31/2026. (Calculate the balance for each year end assuming the annual deposit & the annual funding payment have been completed. Round all numbers to the appropriate whole number. Assume the expected return is 7% with annual compounding) $ Ending Balance Date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 12/31/2026