What is the present value of a series of payments received each year forever, starting with $$1,400$ paid one year from now and the payment growing in each subsequent year by $8\%?$ Assume a discount rate of $10\%.$

Equivalently: What amount would you have to invest today at an interest rate of $10\%$ to generate an annual payment forever, starting with $$1,400$ and the payment growing in each subsequent year by $8\%?$

Please round your answer to the nearest hundredth