What is the present value of a series of payments received each year forever, starting with $600 paid one year from now and the payment growing in each subsequent year by 5%? Assume a discount rate of 6%. Equivalently: What amount would you have to invest today at an interest rate of 6% to generate an annual payment forever, starting with $600 and the payment growing in each subsequent year by 5%? Please round your answer to the nearest hundredth.