Today, you turned 25. Happy birthday! On this glorious day, your parents give you a trust fund with the following characteristics. Starting exactly 10 years from now (so on your 35th birthday), it will pay out a constant cash flow of $24,000 per year, for 50 years (so there will be a total of 50 payments). Calculate the present value (today) of the trust fund. Your required rate of return is 7%.