(10 marks) The completed dam will generate water sales and tourism income of $160000 per year. The life of the dam is estimated at 35 years. If the projected average interest rate over this 35 years is 6.5%, calculate the present value of this income stream. (Round your answer to the nearest thousand dollars, i.e. $3,215,500.333 = 3216000. Do not include the $ sign or any spaces or commas.)