An investment will pay $21,900 at the end of the first year, $31,900 at the end of the second year, and $51,900 at the end of the third year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)

Determine the present value of this investment using a 9% annual interest rate. (Round your answer to nearest whole dollar.)