Imagine you are an UQ alumni and would like to set up a WomensEducation Fund at UQ. The fund would give scholarships to women from economically disadvantaged backgrounds. You would like the fund to be able to pay four scholarships a year of $10,000 each. If your investment fund pays 7.9% per year, how much do you need to deposit now so you can withdraw the money for the scholarships every year? Enter your answer to the nearest cent (two decimal places).

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