Island Institute has agreed to raise money to fund projects for Maine island schools. It plans to make annual payments and to continue the payments forever. The first payment will be $5,000 one year from today and it plans to increase the payment by 2.45% per year. Given an interest rate of 5.65%, how much is needed to fund this perpetuity today? Give the answer as a positive number. Round to the nearest dollar. 1. 1563 Acceptable Range: 156249.9 through 156250.1