Answer is not 144444.4 it marked it as incorrect.

(Present value of a growing perpetuity) Your firm has taken on cost saving measures that will provide a benefit of $13,000 in the first year. These cost savings will decrease each year at a rate of 2 percent forever. If the appropriate interest rate is 7 percent, what is the present value of these savings? The present value of these cost savings is $144444.4 (Round to the nearest cent.)