A trust has been established to fund scholarships in perpetuity. The next annual distribution is $$1,200($and will be received later today$).$ Future payments will increase by $3$ percent per year. What is the value of this trust $($currently at a discount rate of $8\mathrm{.}0$ percent per year, compounded semi$-$annually?$$17,189$$$25,920$$$25,153$$$23,256$$$19,960$