Tina wants to buy perpetuity bonds and she needs your help to know how much to invest now. She wants that the perpetuities pay her 36,000 per year starting next year (i.e. from t=1). She will pass the perpetuities to her children once she dies so they will keep receiving the money even after her death. If the perpetuities promise an annual return of 8%, how much should she invest now (i.e. at t=0) in such bonds to obtain the income that she wants? Round your answer to two decimals. Hint: use the present value of perpetuity formula