Tuition costs are expected to inflate at the rate of 8% per year. The first years tuition is due one year from now and will be $10,000. To cover tuition cost for 4 years, a fund is to be set up today in an account that will earn interest at the rate of 5% per year, compounded annually. How much must be deposited into the fund today in order to pay the 4 years of tuition expenses?