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 $$170,000,$ received two years from today. Subsequent

annual cash flows will grow at $3$ percent in perpetuity. What is the present value of the

technology if the discount rate is $10$ percent? $($Do not round intermediate

calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)*******************$ that is not the answer