Peter got a 6-year assignment in Argentina. Consequently, he will rent out his three-bedroom house in Hancock to an old friend, and given their friendship, Peter only requires end of the year payments (thus no monthly pmts) to be deposited in a savings account created solely for this purpose. Rental income will be 18586 dollars per year but maintenance/repair costs will be 654 dollars in the first year and thereafter increase by 385 dollars per year. The tenant will be doing the maintenance/repair operations and therefore, at the end of each year, deposits the annual rent amount net of maintenance costs. Compute how much money will Peter have in his savings account upon his return (6 years from now) given that the proxy interest rate is 7% per year, compounded annually.