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A donor wants to fund annual scholarships of $47,108 per year. The first scholarship will be awarded 8 years from today and they will continue

A donor wants to fund annual scholarships of $47,108 per year. The first scholarship will be awarded 8 years from today and they will continue each year thereafter. If the university endowment pays an annual interest rate of 2.3%, how much cash must the donor provide today to fully fund the scholarships? Enter your answer as a positive number rounded to the nearest dollar.

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