You are saving for the college education of your two children. They are two years apart in age; one will begin college $14$ years from today and the other will begin $16$ years from today. You estimate your children$$s college expenses to be $$40,000$ per year per child, payable at the beginning of each school year. The annual interest rate is $7\mathrm{.}4$ percent. Your deposits begin one year from today. You will make your last deposit when your oldest child enters college. Assume your children will be on the four$-$year plan.

How much money must you deposit in an account each year to fund your children$$s education? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$