You are head of the Schwartz Family Endowment for the Arts. You have decided to fund an arts school in the San Francisco Bay area in perpetuity. Every 3 years, you will give the school $ 900,000. The...

You are head of the Schwartz Family Endowment for the Arts. You have decided to fund an arts school in the San Francisco Bay area in perpetuity. Every 3 years, you will give the school $ 900,000. The first payment will occur 3 years from today. If the interest rate is 11.2% per​ year, what is the present value of your​ gift? The PV of the gift is ?