Grandpa buys 1000 call options for 7 dollars each, with a strike price of 110 dollars. On the expiration date, the stock price is 133 dollars, and Grandpa's first grandson is born. Grandpa immediately uses the profit from the options to purchase a trust fund for his grandson. The fund will make monthly payments, starting 14 years from now (when Grandpa expects him to begin high school). The payments will increase by 2 dollars each month, and will last forever. Assuming an interest rate of 9.6 percent convertible monthly, what is the amount of the first trust fund payment?
Answer = dollars.