Redflex Traffic Systems installed a new system of red light cameras in Chicago at 21 intersections one year ago. The program has resulted in 10,600 citations generating $500,000 in revenue. If Redflex keeps 66% of the revenue, what is the present worth of the income to Redflex at an interest rate of 6% per year compounded monthly? Assume the revenue was uniformly distributed throughout the year.

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