A trust fund is to be established for three purposes

(1) To provide $750,000 for the construction and $250,000 for the initial equipment of a small engineering laboratory;

(2) To pay the $150,000 per year laboratory operating cost; and

(3) To pay for $100,000 of replacement equipment every 4 years, beginning 4 years from now. At 6% interest, how much money is required in the trust fund to provide for the laboratory and equipment and its perpetual operation and equipment replacement?