A loom is expected to produce regular annual cash flows of $15,000 with the first regular cash flow expected later today and the last regular cash flow expected in 6 years from today. In addition to the regular cash flows of $15,000, the loom is also expected to produce an extra cash flow of $23,000 in 6 years from today. The cost of capital for the loom is 4.50 percent. What is the value of the loom?