Problem $4-26$ Growing Perpetuities

Mark Weinstein has been working on an advanced technology in laser eye surgery. His

technology will be available in the near term. He anticipates his first annual cash flow

from the technology to be $$183,000,$ received two years from today. Subsequent annual

cash flows will grow at $4\mathrm{.}3$ percent in perpetuity. What is the present value of the

technology if the discount rate is $11$ percent? $($Do not round intermediate calculations

and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Answer is complete but not entirely correct.