Kirby is $59$ years of age. He is planning for future long$-$term care needs. He knows that yearly nursing home costs in his area are currently $$80,000,$ with prices increasing by $7$ percent annually. Kirby also is willing to assume a five year LTC need. How much does Kirby need on his first day of care to fully fund LTC costs if he goes into a nursing care facility at age $80?$ Assume that he can earn $9$ percent on savings $($before taxes$)$ and that he is in a $20$ percent combined state and federal marginal income tax bracket.