You have become a successful businessperson. You want to give back to students at your Alma Mater, Tarleton State University. You want endow a scholarship for a student like you. You have decided to let the first year, this scholarship should be $9,428. But you want the amount to adjust appropriately for inflation over time. You have decided that on average the inflation adjustment should be 3.48% per year. In addition, you assume that the trust holding your endowment should be able to average a return of 11.04\% per year (net of any management fees). How much will you have to endow a trust in order for the endowment to offer a scholarship as described above? Please enter your response to the penny