A generous philanthropist plans to make a one-time donation (today) to a renowned heart research center. She wants the donated funds to be invested to provide the facility with $750,000 per year forever.

Required:

If the interest rate is expected to be 8 percent per year for all future time periods, how much must she donate to the center? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Amount Donated

$