Question: A growing perpetuity pays an initial $ 1 , 5 4 3 cash flow. Future cash flows grow at 2 % per year thereafter. If

A growing perpetuity pays an initial $1,543 cash flow. Future cash flows grow at 2% per year thereafter. If the first cash flow doesn't occur until 3 years from today and the discount rate is 7%, what is the present value of this series of cash flows? Round your answer to the nearest dollar.

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