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Faye Wong is planning for her daughter's college tuition. Her daughter will go to college in five years' time and the estimated required funds are

Faye Wong is planning for her daughter's college tuition. Her daughter will go to college in five years' time and the estimated required funds are $40,000 per year for 4 years, paid at the beginning of each year. Anson estimates that her investments will return 7% per year. How much should Anson set aside now?

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