Suppose your uncle sues a manufacturer for a defective product that causes an injury. The attorney for the manufacturer offers your uncle the following stream of payments as a settlement of the suit: $40$ quarterly payments $(4$ per year for $10$ years$)$ with the first payment of $$4,800$ received one quarter from now and subsequent payments growing at a rate of $1\%$ per quarter. If an appropriate discount rate is $6\mathrm{.}5\%($EAR$),$ what is the present value of this offer?