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Clarissa wants to fund a growing perpetuity that will pay money to a local museum each year, starting next year. She wants to pay the

Clarissa wants to fund a growing perpetuity that will pay money to a local museum each year, starting next year. She wants to pay the museum $8,000 next year and wants the annual amount to grow by 5% per year. Given that the interest rate is 8%, how much (in $) does she need to fund this perpetuity? (Round your answer to the nearest cent.)

$

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