An investor owns two apartments, which provide him a monthly

income of $1,000$ each, beginning today. The owners community

expenses add up to $350,$ quarterly for both. These expenses will be

paid in three months time. It is foreseen that both $($the rent and the

community expenses$)$ increase at a yearly rate of $8\%$ over $20$ years

and at the end, the value of each apartment will be $10,000.$ Calculate

the present value of both apartments evaluated at annual interest rate

of $10\%.$