Real Estate Fund is considering the purchase of a mixed-use project for $25,000,000

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Real Estate Fund is considering the purchase of a mixed-use project for $25,000,000. They estimate receiving cash flow equal to $3,200,000 for years 1 through 4 (i.e. Year 1 = $3,200,000; Year 2 = $3,200,000; Year 3 = $3,200,000; and Year 4 = $3,200,000). In Year 5, however, the Fund anticipates the cash flow will increase to $3,500,000. Thereafter, the cash flow will increase by 3% beginning in Year 6 and continue increasing annually by 3%. What is the cash flow for Year 7?