Please and Thanks.

Yvonne's father was a true believer in giving back." He endowed a program 35 years ago to help students receive degrees when they are short on funds. How much money was contributed 35 years ago if it earned at a rate of 14% per year (with no withdrawals) and is now sufficient to provide a perpetual income of $48,000 annually beginning this year, year 35? The amount of money that was contributed 35 years ago is $