Elijah would like to endow a chair at Stanford University for $382,500 per year. (It means whoever gets the endowed chair position could have the annual salary of $382,500 forever.) At 5.25% annual interest rate, how much does Elijah need to donate? a. $3,825,000 b. $6,748,355.52 c. $2,008,125.00 d. $7,285,714.29