Question: Nate is saving for his son's college. He expects to need to need 8 annual payments of $ 2 9 , 0 0 0 each,

Nate is saving for his son's college. He expects to need to need 8 annual payments of $29,000 each, with the first annual payment occurring 10 years from today. Ideally, Nate would like to fully fund the entire bill with a single deposit today. If the discount rate is 10%, how much should he deposit? Round your answer to the nearest dollar.

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