Maintenance money for an athletic complex has been sought. Mr. Kendall, Athletic Director, would like to solicit a donation to cover all future expected maintenance costs for the building. These maintenance costs are expected to be $1.3 million each year for the first five years, $1.7 million each year for years 6 through 10, and $1.9 million each year after that. (The building has an indefinite service life.)If the money is placed in an account that will pay 8% interest compounded annually, how large should the gift be?

The gift should be$() million. (Round to two decimal places.)

10 Single Payment Equal Payment Series Compound Present Compound Sinking Worth Amount Fund Factor Factor Factor Present Amount Worth Factor Factor (F/P, i, N) (P/F, i, N) (FA, i, N) (A/F, i, N) (PA, i, N) 0.9259 0800 0.9259 0000 1.0000 1.7833 1.1664 2.0800 0.8573 0.4808 1.2597 0.7938 3.2464 2.5771 0.3080 4.5061 3605 0.7350 3.312 0.2219 3.9927 5.8666 0.1705 4693 0.6806 7.3359 1.5869 0.6302 0.1363 4.6229 0.1121 5.2064 1.8509 10.6366 0.0940 5.7466 1.9990 12.4876 6.2469 14.4866 0.0690 6.7101 0.4632 Capital Recovery Factor (A/P, i, N) 1.0800 0.5608 0.3880 0.3019 0.2505 0.1921 0.1740 0.1601 0.1490