After graduation, Ellen plans to work for Manning Corporation for 14 years and then start her own business. She expect to save and deposit $5,800 a year for the first 7 years (t = 1 through t = 7) and $25,000 annually for the following 7 years (t = 8 through t = 14). The first deposit will be made a year from today. In addition, her grandfather just gave her a $47,500 graduation gift which she will deposit immediately (t = 0). If the account earns 7.5% compounded annually, how much will Ellen have when she starts her business 14 years from now?