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You want to endow a scholarship now that will pay $ 1 4 , 0 0 0 per year forever, starting the first award 1

You want to endow a scholarship now that will pay $14,000 per year forever, starting the first award 10 years from now. If the school's endowment discount rate is 4%, what amount must you donate today to endow the scholarship?
The amount you must donate today to endow the scholarship is $113,552.54.(Round to the nearest cent.)
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