Evaluating a Single Project (PW, CW, FW, and AW)

. A foundation was endowed with $15,000,000 in July 2010. In July 2014, $5,000,000 was expended for facilities, and the operating expenses are $250,000 at the end of each year forever. The first operating expense is in July 2015, and the first replacement expense in July 2014. If all money earns interest at 5% after the time of endowment, what amount would be available for the capital replacements at the end of every fifth year forever? (Hint: Draw a cashflow diagram rst.)