Cullumber Company must perform an impairment test on its equipment. The equipment will produce the following cash flows: Year $1,$ $$26,000$; Year $2,$ $$48,000$; Year $3,$ $$63,500.$ The discount rate is $12\%.$ What is the value in use for this equipment? Use the present value table in your calculation. $($For calculation purposes, use $5$ decimal places as displayed in the factor table provided. Round final answer to $2$ decimal places, e$.$g$.5,275\mathrm{.}25.)$

Click here to view the factor table PRESENT VALUE OF $1.$

Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF $1.$

Value in use $enter the value in use in dollars rounded to $2$ decimal places