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You want to endow a scholarship now that will pay $ 7 , 0 0 0 per year forever, starting the first award 1 0

You want to endow a scholarship now that will pay $7,000 per year forever, starting the first award 10 years from now. If the school's endowment discount rate is 6%, what amount must you donate today to endow the scholarship?
The amount you must donate today to endow the scholarship is $.(Round to the nearest cent.)
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