This is quite an interesting problem. At first it may sound impossible but we can always apply the concepts of special relativity, with the reference frame changed, i.e. 50000 light years from our reference frame, and 7 days for that object's frame of reference.
From time dilation, we have t=g to, where t is the time from our refrence frame,to is the time under reference frame of object(to=7/365 yr), and g is gamma=1/sqrt[1-(v/c)^2].
Here we assume that (v/c) is so close to unity that 1+(v/c)=2.
Then,gamma=1/sqrt[1-(v/c)^2]
=1/sqrt[(1+(v/c))(1-(v/c))]
=1/sqrt[2(1-(v/c))]
So,from our frame of reference, the object should take 50000 years to travel that far.Hence we get t=50000yr. From the equation above, we get g=t/to = 50000/(7/365) =2.61x10^6.
Hence,1/sqrt[2(1-(v/c))]=2.61x10^6
sqrt[2(1-(v/c))]=3.83x10^-7
2(1-(v/c)) = 1.468 x 10^-13
(v/c) = 1- (1.468 x 10^-13)/2
= 1 - 7.34x10^-14
v = 0.9999999999999266c #