Assume that the Canada Pension Plan promises you $$20,000$ per year starting when you retire $45$ years from

today $($the first $$20,000$ will come $45$ years from now$).$ If your discount rate is $5\%,$ compounded annually, and you plan

to live for $15$ years after retiring $($so that you will get a total of $16$ payments, including the first one$),$ what is the value

today of Canada Pension Plan's promise?

The value today of the Canada Pension Plan's promise is $

$($Round to the nearest dollar.$)$