You are thinking of building a new machine that will save you $\backslash (\backslash$$ $1,000\backslash )$ in the first year. The machine will then begin to wear out so that the savings decline at a rate of $\backslash (1\backslash \%\backslash )$ per year forever. What is the present value of the savings if the interest rate is $\backslash (10\backslash \%\backslash )$ per year?

The present value of the savings is $!$

$.($Round to the nearest cent.$)$