Having achieved immense success since graduating from university, you have set up an endowment fund to which you will contribute $100,000 today, with this amount growing at a constant rate of 4% p.a. in perpetuity. If the interest rate appropriate for valuing this contribution is 10% p.a., its present value is closest to:

$1,666,667.

$1,766,667.

$1,833,333.

$1,733,333.