In $11$ years you will begin receiving $$159$ per year in perpetuity from a family trust fund $($first payment is exactly $11$ years from today$).$ You have decided to discount these cash flows at a constant interest rate of $5\mathrm{.}9\%.$ What is the present value today of these future cash flows? $($Hint: draw a time line to illustrate exactly the cash flows for this problem.$)$ Answer to $2$ decimal places.