5% Use the following table to answer the question. Periods 6% 7% 10% 0.95238 0.94340 0.93458 0.90909 0.90703 0.89000 0.87344 0.82645 0.86384 0.83962 0.81630 0.75132 0.82270 0.79209 0.76290 0.68301 0.78353 0.74726 0.71299 0.62092 0.74622 0.70496 0.66634 0.56447 0.71068 0.66506 0.62275 0.51316 0.67684 0.62741 0.58201 0.46651 0.64461 0.59190 0.54393 0.42410 0.61391 0.55840 0.50835 0.38554 What is the present value of a $29,000 to be received five years, if the market rate is 6% compounded annually? Round your answer to two decimal places