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You have $ 4 0 0 0 0 0 to donate to your university. The university's discount rate is 3 % . You donate the

You have $400000 to donate to your university. The university's discount rate is 3%. You donate the money today, but you ask the college to delay the scholarship payment so that the first scholarship payment is made 10 years from today. How large will the annual payment be? Round your answer to the nearest cent.

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