Fred would like to plan for their son's college education. They would like their son, who was born today, to attend a public university for 5 years beginning at age 18. Tuition is currently $15,00 a year and has increased at an annual rate of 5%, while inflation has only increased at 2% per year. Fred can earn an after-tax rate of return of 9%. How much must they save at the beginning of each year if they would like to make the last payment at the beginning of his son's last year of college?