Brief Exercise C-12 (Algo) Calculate the present value of an annuity (LOC-5) Tatsuo has just been awarded a four-year scholarship to attend the university of his choice. The scholarship will pay $16,000 each year for the next four years to reimburse normal school-related expenditures. Each $16,000 payment will be made at the end of the year. contingent on Tatsuo maintaining good grades in his classes for that year. Assuming an annual interest rate of 4.5%, determine the value today of recelving this scholarship if Tatsuo maintains good grades. (EV of S1. PV of S1. EVA of S1. and PVA olSi) (Use tobles, Excel, or a financial calculator. Round your answer to 2 decimal places.)