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

$45$ years from now$).$ If your discount rate is $5\%,$ compounded annually, and you plan to live for $16$ years after retiring $($so that you will

receive a total of $17$ 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.$)$