Betty has decided to donate some funds to her local community college. Betty would like to fund an endowment that will provide a scholarship of $25,000 each year in perpetuity, and also a special award, Student of the Decade, each ten years (again, in perpetuity) in the amount of $50,000. Assume the fund will earn a return of 8% per year.

(a) Convert Student of the Decade funds into an equivalent annual amount over the ten years. Enter a numeric value only. You do not need to include the dollar sign or show your work.

(b) Add the amount from part (a) to the annual scholarship and then use capitalized worth to bring it all back to time zero. This is how much money Betty needs to donate today, in one lump sum, to fund the endowment. Enter a numeric value only. You do not need to include the dollar sign or show your work.