Regal Medical Center is starting an endowment fund to pay for the expenses of a medical research program. The expenses are $5 million per year, and the program is expected to last ten years. Assuming...

Regal Medical Center is starting an endowment fund to pay for the expenses of a medical research program. The expenses are $5 million per year, and the program is expected to last ten years. Assuming payments are made at the end of each year and the interest rate is 9 percent per year, what should be the initial size of the endowment?