Paulo is saving madly to buy his first home ten years from now. He deposits to a fund each January 1 and July 1 for the years 2004 through 2014. The deposit he makes on each July 1 will be 10.25% greater than the one on the immediately preceding January 1. The amount he deposits on each January 1 (except for January 1, 2004) will be the same amount as the deposit made on the immediately preceding July 1. The fund will be credited with interest at a nominal annual rate of 10%, compounded quarterly. On December 31, 2014, the fund will have a balance of $110,000, an amount Paulo considers is enough for a home deposit and other miscellaneous expenses. Determine Paulo's initial deposit to the fund.