After attending a financial planner seminar, Leo is very concern about whether he can afford his son to study a 6 year medical course in the US university at the age of 18. His son is now 5 year old. The current medical course at the unviresity is divided into 2 parts: Primary level (Year1 to Year 3) AND SENIOR LEVEL (Year 4 to Year6) . Currently, the school fee for primary level is $60,000 per year and the school fee for senior level is $82,000 per year. In addition, the university cost is expected to increase at 3% per year.

Assume that the education expenses are withdrawn at the beginning of each year and Leo starts saving now with an equity unit trust fund of 5% annual rate of return and he wants the education fund to be ready when his son first day starts the university study. (Round up all answers to 2 decimal places)