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Assume that Social Security promises you $34,000 per year starting when you retire 45 years from today (the first $34,000 will get paid 45 years

Assume that Social Security promises you $34,000 per year starting when you retire 45 years from today (the first $34,000 will get paid 45 years from now). If your discount rate is 5%, compounded annually, and you plan to live for 12 years after retiring (so that you will receive a total of 13 payments including the first one), what is the value today of Social Security's promise? The value today of Social Security's promise is $ (Round to the nearest cent.) please show in excel.

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