A trust fund is to be established for providing the costs associated with a small engineering laboratory for the Engineering College. The following costs are required for the engineering laboratory: (1) The construction cost is $1,500,000 and the initial equipment cost is $900,000; (2) The annual laboratory operating cost is $250,000 for the first 3 years and $200,000 thereafter; (3) The cost of equipment replacement is $350,000 every 6 years, beginning 6 years from now. How much money is required in the trust fund now to build the engineering laboratory and maintain its perpetual operation and equipment replacement? The interest rate is 8% per year