A perpetuity pays 150 at the end of each month in the first 3 years. Starting from the 37th payment, the monthly payment is increasing at a rate of 0.1% per month, more precisely, the 37th payment is 150(1 + 0.001), the 38th payment is 150(1 + 0.001)?, etc. If the interest rate is {(12) = 3%. What is the present value of the perpetuity one month before the first payment? =