Problem $6-50$ Calculating Present Value of a Perpetuity $[$LO$1]$

Given a discount rate of $5$ percent per year, what is the value at Date t $=7$ of a perpetual stream of $$3,400$ payments with the first payment at Date t $=15?($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$