An annuity makes payments for 50 years with the following payment pattern: $1 paid at the end of the first year, $2 at the end of the second year, $1 at the end of the third year, $4 at the end of the fourth year, $1 at the end of the fifth year, etc. This pattern will continue such that $1 will be paid out at the end of the 49th year and $50 will be paid out at the end of the 50th year. What is the present value of this annuity assuming the interest rate is 5% per annum convertible quarterly?