You have two assets and must calculate their values today based on their payment streams and required returns. Asset 1 has a required return of 6% and will produce a stream of $500 starting at year 1 and continuing indefinitely. Asset 2 has a required return of 8% and will produce an end-of-year cash flow of $1,100 in 1 year, $1,600 in 2 years, and $800 in 3 years.

The value of Asset 1 today is $?