An investment is scheduled to pay $$1,000$ one year from now; $$2,000$ two years from now; $$3,500$

three years from now, and this pattern is expected to remain the same in perpetuity $($i$.$e$.,$ $$1,000$ on

t$=4$; $$2,000$ on t$=5$; $$3,500$ on t$=6$; etc.$).$ If the discount rate on the project is $7\%($effective annual

rate$),$ what is the present value of the investment.