An engineering company expects to expand its plant facilities in 8 years at an estimated cost of $56,000. To provide for the expansion, a sinking fund has been established into which equal payments are made at the beginning of every 3 months. Interest is 7% compounded quarterly, (a) What is the size of the quarterly payment? (b) How much of the maturity value will be payments? (c) How much interest will the fund contain? (a) The size of the periodic payment is s (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)