A family is getting a divorce, and part of the divorce settlement involves setting aside money today for college tuition for their daughter who enters college in 12 years. They estimate that the cost of four years' tuition, food, and lodging at the state university their daughter will attend will be $35,400. (a) Find the lump sum that must be invested at 4% semiannually. (b) Find the amount of interest earned. What is the present value? $ (Round to the nearest cent as needed.) What is the amount of interest earned? $ (Round to the nearest cent as needed.)