Your daughter will graduate from college in four years. At that time you would like to give her a trip to Europe where she will study in Paris for four years. She will make annual $3,000 withdrawals at the beginning of each year beginning with a withdrawal when she leaves for France right after graduation. If you can earn 7% on your account, and she can invest her remaining funds in a French bank where she will earn 5%, how much must you deposit in the account today so that all of the money will be withdrawn at the end of the last year in Paris? Ignore foreign exchange rates.