THE ANSWER MUST BE 275529.43

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Suppose you receive a payment of $4,000 one year from now, but in year 2 the payment will have grown by 1.8% to $4,000 times (1 + 1.8/100), and in year 3 it will have grown by another 1.8%, so that you receive $4,000 times (1 + 1.8/100)^2, and so on into perpetuity. Note that this is compound growth, not linear. Given an interest rate of 3.2% continuously compounded, what is the present value of these cash flows, to the nearest $0.01