Sierra Electric Company is considering the purchase of a hillside ranch for possible use as a wind energy farm sometime in the future. The owner of the 600-acre ranch will sell for $6,500 per acre if the company will pay her in two payments-one payment now and another that is twice as large 3 years from now. If the transaction interest rate is 8% per year, what is the amount of the first payment? The amount of the first payment is $[