Ben is the beneficiary of a trust fund. He (or his heirs) will receive a monthly perpetuity from the trust fund. The monthly payments are 1000 at the end of each month for the first 10 years. Thereafter the payments are each 10 higher than the previous payment. In other words, Ben (or his heirs) will receive 120 payments of 1000 followed by payments of 1010, 1020, 1030, etc. Calculate the present value of the payments from the trust fund using an interest rate of 8.4% compounded monthly. (Round your answer to two decimal places.)