What is the present value of all college education for 5 children ages 0, 1, 1, 3 and 5 if the cost of education in today's dollars is $34,000 per year, education inflation is 5%, and the parents' expected portfolio rate of return is 8.5%? The children are expected to be in college 4 years and they will each start at age 18.

*please do on excel if possible