Jack and Jill have just had their first child. If college is expected to cost 150,000 per year in 18 years, how much should the couple begin depositing annually at the end of each year to accumulate enough funds to pay the firstyear's tuition at the beginning of the 19thyear? Assume that they can earn an annual rate of return of 6% on their investment.

The amount that the couple should begin depositing annually at the end of each year is ?