When your firm hires a new employee this year, it is obligated to contribute $6,125 to a defined contribution plan for that employee, one year after the hire date. The contribution must be adjusted annually for inflation. Assume that inflation will be a constant 3% a year from this point forward. What is the cost to you of hiring a 28-year old who will be with the company for 35 years if the appropriate discount rate is 8%? 

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