Their daughter, Chyna, is interested in attending a prestigious college. The annual tuition,

plus room and board and other fees, is about $$65,000$ per year. College costs are increasing

at a $5\%$ rate per year. The college typically awards to applicants with a household income of

$$95,000$ scholarships and grants equal to $70\%$ of the total cost of college. Help Theba and

Marek determine how much college will cost, based on this information and assuming that

Chyna is $15$ years of age and will start college at age $18.$ Based on your answer, how much

will they need to save per year starting today to fund one year's worth of net college

expenses if they can earn $7\%$ APY on their savings? $($Round answer to $2$ decimal places, e$.$g$.$

$52\mathrm{.}75.$ Do not round intermediate calculations.$)$