You own an oil pipeline that will generate a $3.3 million cash return over the coming year. The pipeline's operating costs are negligible, and it is expected to last for a very long time. Unfortunately, the volume of oil shipped is declining, and cash flows are expected to decline by 3.0% per year. The discount rate is 9%.

What is the PV of the pipeline's cash flows if its cash flows are assumed to last forever?

Enter your answer in dollars, not millions of dollars. Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.