Maddy was scheduled to make payments of $5,000 in 1 years from now, and $7,500 in 4 years from now. She is proposing an alternative arrangement that would involve a payment in 6 months from now, followed by a payment of $11,000 in 3 years from now. How much would the payment in 6 months from now need to be in order for the two streams to be economically equivalent? Assume that money can earn 5% compounded semi-annually. Hint: A timeline would be helpful.