You just signed a 30-year lease agreement for a business property. The monthly rent for the first year is $1,000/month, with the first monthly rent due today. Starting from the second year onward, the monthly rent will be increased by 10%/year (i.e., the monthly rent for the second year will be $1,100, the monthly rent for the third year will be $1, 000(1.10)2 = $1, 210, and so on). Assuming the annually compounded interest rate is 15%/year, what is the present value of the 360 rental payments.