Xavier University saves $40,000 per month for the next 15 years as a safety net for economic downturns. The money will be deposited in a high-yield savings account that earns 8.35 percent interest compounding monthly. The first deposit will be made today. What would todays deposit amount need to be if the department opted for a lump sum deposit today that would produce the same amount of savings as the monthly deposits after 15 years?