April Stigum will receive a 20-year annuity of $20,000 annually, beginning six years from today. In other words, the first payment of twenty payments will be made at the end of year 6. Assuming a required rate of return of 5%, calculate the present value today of her annuity. (Round to 2 decimals)

April Stigum will receive a 20 -year annuity of $20,000 annually, beginning six years from today. In other words, the first payment of twenty payments will be made at the end of year 6 . Assuming a required rate of return of 5%, calculate the present value today of her annuity. (Round to 2 decimals)