The environmental protection agency of a county would like to preserve a piece of land as a wilderness area for the future generations. The current owner has offered to lease the land to the agency in return for a lump-sum payment of $1,934,525, which would be paid at the beginning of each of the 17-year period, for the foreseeable future. The agency has estimated that the land would generate $96,400 per year in benefits to hunters, bird watchers, and hikers. Assume that the lease price represents the social opportunity cost of the land and that the appropriate real discount rate is 4 percent. Calculate the net social benefits of leasing the land (i.e., the net present value of an annuity). (your answer must be rounded-off to the nearest dollars, i.e., no decimal places)