An investment promises to pay you $$400$ per year starting immediately. The cash flow from the investment is

expected to increase by $3$ percent per year forever. If alternative investments of similar risk earn a return of $11$

percent per year, determine the maximum you would be willing to pay for the investment. $($Round answer to $2$

decimal places, e$.$g$.125\mathrm{.}12.$ Do not round your intermediate calculations.$)$

Maximum amount you would be willing to pay $