Problem $5-5$ Present Value of a Perpetuity $($LG$5-5)$

What's the present value, when interest rates are $8$ percent, of a $$130$ payment made every year forever?

Note: Round your percentage answer to $2$ decimal places $($i$.$e$.,0\mathrm{.}1234$ should be entered as $12\mathrm{.}34).$

Answer is complete but not entirely correct.