A client's child will be attending college in $7$ years. Assume current tuition and fees are $$37,294,$ and inflatiqn for college costs averages $1\mathrm{.}96$ percent. She can earn $9\mathrm{.}94$ percent on the money she invests for this purpose. The client wants to know how much she will need to set aside today to pay the first year's tuition and fees.