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Assume that the Canada Pension Plan promises you $ 3 0 , 0 0 0 per year starting when you retire 4 5 years from

Assume that the Canada Pension Plan promises you $30,000 per year starting when you retire 45 years from today (the first $30,000 will come 45 years from now). If your discount rate is 8%, 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.)
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