Calculate the present value of a 5-year increasing quarterly payable annuity immediate that has an initial payment of $50 and has an annual effective interest rate of 8%. I have to do the problem through excel (my work in picture). The answer is supposed to be 2340.125. Can someone explain what I am doing wrong? Thanks.

A F 6 B C D E Quarter Payment Discount Factor Present Value 1 50 0.980392157 49.01960784 2 50 0.961168781 48.05843906 3 50 0.942322335 47.11611673 4 50 0.923845426 46.1922713 5 100 0.90573081 90.57308098 6 100 0.887971382 88.79713822 7 100 0.870560179 87.05601786 8 100 0.853490371 85.34903712 9 150 0.836755266 125.5132899 10 150 0.8203483 123.052245 11 150 0.804263039 120.6394559 12 150 0.788493176 118.2739763 13 200 0.773032525 154.606505 14 200 0.757875025 151.5750049 15 200 0,74301473 148,602946 16 200 0.728445814 145,6891627 250 0.714162562 178.5406406 18 250 0.700159375 175.0398437 19 250 0.68643076 171.6076899 250 0.672971333 168.2428333 2323.545302 17 20