Ted and Carol are planning to provide for their two daughters future college tuition. The oldest daughter is expected to need $8,000 in 8 years, $9,000 in 9 years, $10,000 in 10 years, and $11,000 in 11 years. The youngest daughter is expected to need $14,000 in 14 years, $15,000 in 15 years, $16,000 in 16 years, and $17,000 in 17 years. If Ted and Carol can earn 8 percent annually, what single amount do they need to invest today to provide for their daughters future college tuition?