With more people working from home, JD HiFi is considering investing in a new project that improves the speed of home delivery service. The project is expected to generate cash flows of $100 million every four years forever with the first cash flow starting in year 2 and $400 million every four years forever with the first cash flow starting in year 4. The timeline of the first 12 years of cash flows is given below: Year Year Year Year Year Year Year Year Year Year Year Year Year 3 4 5 6 7 8 9 10 11 12 0 1 2 $100 $400 $100 $400 $100 $400 JD HiFi has found that similar investments are paying a return of 10% p.a. compounded quarterly. Suppose that this project could be restructured such that it makes equal value quarterly payments forever (with the first cash flow in 3 months' time) instead of the cash flow stream above. How much would each payment need to be to ensure that the present value of the project remains the same?