A 8-year annuity of 16 $8,700 semiannual payments will begin 10 years from now, with the first payment coming 10.5 years from now. If the discount rate is 11 percent compounded semiannually, what is the value of this annuity 8 years and 6 years from now? Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.

What is the value of the annuity today? Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.