As a child Rachel loved to skate! Her city recently advertised a need for a donor, in order to cover the cost of replacing the substructure at the ice rink (which because of decay had caused the skating rink to be closed). Rachel is retired and has resources and wants to give back to the city, and this skating rink project sounds exactly like the type of thing that she and her deceased husband would have wanted to support. Rachel contacted the city and offered to make a large donation now to cover the "cost of maintaining the substructure for the next 50 years." The city has looked into this generous offer and provided Rachel with the following data:

- Cost to replace the substructure = $75,000

- Life cycle per replacement = 5 years (each new substructure lasts for 5 years)

- Interest rate earned on the account the city will put Rachel's gift into = 8% compounded quarterly

What is the size of the gift that Rachel will give to the city to keep the skating rink open for the next 50 years? PS: Because of her generosity the city has decided to name the skating rink in honor of Rachel and her husband!