You want to endow a scholarship that will pay $7,000 per year forever, starting one year froen now. If the schoor's endowmont discount rate is 5%, what amount must you donate to endow the scholarship? How would your answer change if you endow it now, but it makes the first award to a student 10 years trom today? In the first case, the amount you must donate loday is ? (Round to the nearest cent)