Find the present value of the following ordinary annuity.

Periodic Payment

Payment Interval

Term

Interest Rate

Conversion Period

$$$$150\mathrm{.}00$

$1$ month

$10$ years

$3\%$

annually

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Part $1$

The present value is $$$

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$($Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as$$ needed.$)$