Jenny is currently 20 years old and is planning for her retirement. She has $10,000 in her savings account today. She plans to retire at age 40, and receive an annual benefit payment (pension) of $80,000 for the following 40 years, i.e., until she is 80. If she wants her contributions over the next 20 years to grow at a rate of 5% per year, what must her first contribution (occurring one year from today) be? Assume a constant interest rate of 8%.