An engineering company in Wyoming that owns 50 hectares of high-value land has decided to lease the mineral rights on its property to a mining company. Its main objective is to obtain a long-term investment income to finance upcoming projects 6 and 16 years from the current moment. The company proposes that the mining company pay $20,000 annually for 20 years starting one year from now, plus $10,000 in six years and $15,000 in 16 years. If the mining company wants to pay off its lease immediately, how much would it have to pay now if the investment could generate 16% annually?

Consider that the annuities begin in year 4 (20 payments) the other two payments remain the same