If you still donate the $100,000 from Problem 16 today, but ask the college to delay the scholarship payment so that the first scholarship payment is made 10 years from today, then how large will the annual payment be?

Data from in Problem 16

You have $100,000 to donate to your college. You want to endow a perpetual scholarship that makes its first payment in 1 year. If the college’s discount rate is 4%, how large will the annual scholarship payment be?