Bell Canada wishes to establish two scholarships, one at theUniversity of Guelph and a second at the University of GuelphHumber. The universities intend to establish bothscholarships for a fifteen-year period, and wish to adjust theannual payments for an anticipated 3% annual growth ininflation. From the monies provided, Guelph will pay out itsfirst scholarship in one year for $10,000. Guelph Humber, onthe other hand, will pay out its first scholarship in four years,with the first payment being $10,500. Funds are transferredto each university immediately and can be invested to generate a 5%rate of return over the life of the scholarships. What arethe total funds that Bell must transfer to establish thesescholarships? Show all calculations or calculator inputs.